Living in a suitcase

Friends from outside the capital rarely believe me when I tell them how it's nigh on impossible to buy a house or flat in the capital for less than a couple of hundred thousand pounds. Apologies: I've been misleading you.

For example, take this place in North London that can be yours for £160,000 assuming it gets planning permission. A full 8ft wide bargain.

If southeast London is your thing then maybe this is more suitable. It may look like a garage, it may be a garage but it's only £50,000.

Alternatively you can grit your teeth, defy the London property beast and try not to flinch as the council tax bills and reports of house price crashes around the corner come in. Besides, even at half current market prices we could get at least another bedroom anywhere else in the country.

But then I'm confused: barely a week goes by when there's not a story about either the population swelling or the emigration of Londoners to the home counties. They can't both be right.

One thing I'm sure about though: despite paying over the odds and salaries not fully compensating just being here still makes it worthwhile.