LONDON property prices will plummet because all the rich twats are already there, experts have warned.

As former hospitals, libraries and community centres are bought up and either knocked down or converted into expensive housing, property developers have admitted they overestimated the global supply of gits.

Tom Booker said: “I remember buying my first Bethnal Green orphanage in 2007 and turning it into eight foot by six foot studio apartments starting at £450,000.

“You wouldn’t believe the number of vampiric Trustafarians, junior bankers and wealthy but clueless Spanish Anglophiles I had queuing up for viewings.

“Turns out I’d underestimated the number of people in ordinary jobs earning roughly £26,000 who actually make the world turn.

“So now I’m fucked. Any chance of some sort of bailout? Otherwise I’ll leave the UK and then you’ll be sorry.”