The Mystreet property price index (yes, literally the 40 homes in my street) has been predictably active lately. From a 2007 mean index base of 100 asking prices dropped to 94 with the crash. By last year,2012, they were back at 100 and earlier this year one was sold at 104, marking a modest and realistic return of the market. This week, another's just sold at 115.5 - 15.5% above the 2007 bubble high, marking a new price-point for us all. This is now solid Foxtons territory. And it's a bubble. The couple of houses that have gone as upscale buy-to-lets since 2007 are now struggling to find tenants and it's only the anticipated effect of Osborne's mortgage subsidy and agents talking the market up that has acted like Viagra on price. I bought in 1995, at the bottom of the market. I think it's now time to sell before the bubble bursts.
And Ambrose sets out in the Telegraph (£) the problems ahead for Germany; AfD didn't make it past the magic 5% in the end, but if Mutti is forced into coalition with the centre-left then Germany is set to become a lot more French - minimum wage, social subsidies and pension spend, all of which will damage her economic engine at a time when its already in danger of flagging.
Which gives me my exit strategy; sell the house before the bubble bursts, then wait until the FX rate reaches €1.25 and bugger-off to an acre and five bedrooms somewhere more pleasant.