Assuming prices stop being silly I'll be buying some at point next year and the main decision is whether to buy a 2-bed flat in London or a 2-bed terraced house in Bromley.
Main points to consider:
1. I'd prefer to live in London for many reasons - shorter and cheaper commute, closer in for shopping and museums, gigs etc, easier to get up on Sunday mornings for the stiffback roadie club ride and just because... it's London
2. Bromley is boring suburban commuter-ville with a long commute but it's quieter, you can get way more for your money, a garden is better for cleaning and maintaining bikes, house means more storage space (great for bikes) and no leasehold hassles. Also easier to drive down to Surrey Hills for MTB.
3. A flat will come with additional charges for service charge and at current pricing is £30-70k more expensive than a house...
Heart says flat in London, head says house in Bromley...
Anything else to throw into the mix?