Last year most property sales in London involved flats which sold for on average £386,584. Terraced properties sold for an average price of £499,401, while semi-detached properties fetched £463,439.
London, with an overall average price of £451,079 was more expensive than nearby South East (£298,103), East of England (£239,254) and East Midlands (£160,767). The priciest area within London was Central London (£1,193,596) and the least expensive was East London (£294,903).
During the last year, sold prices in London were 9% up on the previous year and 11% up on 2010 when the average house price was £406,365.