Saila and DaveR touch on something as important in the price rises. From the 40s to the 80s, even into the 90s the overall trend was for most middle class people (infact most people) to aspire to move away from inner city London, the ideal was to move out. It's a simplification of course but it was the underlying aspiration for many. In the 90s suddenly City life became seen as more hip again, there were more singles, people not getting married as early, the emergence of a more confident and out gay culture (which is pretty city focussed; inner city infrastructure and life had a linked rennaisance. I also think that changes in the work place including more woman, including mum's, in full time 'career' type jobs and dad's actually wanting (or being allowed/expecting) to see and help with their kids than in the past combined with job pressure meaning longer hours at work meant that commuting longer distances looked more impratical/infexible. So many of us embrace the urban - with smaller more expensive living rather than the beefeater and golf course life. The return of the city being popular for families again has driven prices; educational improvement; and gentrification of the inner city. Simplistic bit of Socioology but so what Comparing SE22 now to 1981 just highlights a London trend - In 1981 half the Kings Road was squats; places like Queens Park/Holloway/Kentish Town/Tufnell Park and Islington were largely dumps. Full of cheap rented housing - even places like West Hampstead; Notting Hill; were pretty decaying down at heal areas.