Halifax released its final UK House Price Index data for 2015, which showed prices jumping by +1.7 per cent in the final month of the calendar year to finish the year +9.5 per cent higher.
The regional data won't be released until next Wednesday, but when it is it will show London house prices surging by another 12 per cent to once again finish as the top performer.
Supply continues to dwindle, with the number of home sellers declining for a tenth consecutive month and industry data suggesting that there are perhaps ten potential buyers of each property for sale.
Mortgage approvals are rising robustly as prospective landlords rush to get in before changes to the tax legislation for the new tax year.
Those promoting the idea that lower volumes and elevated price to income ratios 'prove' that cities such as Sydney will inevitably suffer a significant correction might do well to observe the long run trend in the London chart.