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There's certainly a bubble in the central London property market now, but most of the cash buyers have already swooped for this year and after Easter you'll be left with more mortgage-laden wannabes.
Also, although it will probably last until the election, it's worth remembering that property bubbles spread. So, assuming you won't be living in a cardboard box or emigrating, what counts is the relative price difference between your sale and purchase.
It's hard to answer your question without knowing where you are aiming to go. If this is further out in London I'd say go for it now before the bubble equalises. But if you're content to move to another town or out in the suburbs maybe wait until the start of next year, and ensure that by then your gaff is in tip-top condition and all your property documents are ready for a quick sale.
It's gratifying that a Money Week article on 2014-03-27 (which I swear I hadn't seen) said essentially the same thing
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