Last year most property sales in London involved flats which sold for on average £490,711. Terraced properties sold for an average price of £633,746, while semi-detached properties fetched £616,044.
London, with an overall average price of £571,792 was more expensive than nearby South East (£362,210), East of England (£296,470) and East Midlands (£185,965). The priciest area within London was Central London (£1,419,590) and the least expensive was East London (£415,019).
During the last year, sold prices in London were 8% up on the previous year and 21% up on 2013 when the average house price was £472,264.