Last year most property sales in London involved flats which sold for on average £495,266. Terraced properties sold for an average price of £633,793, while semi-detached properties fetched £626,667.
London, with an overall average price of £574,616 was more expensive than nearby South East (£365,945), East of England (£299,797) and East Midlands (£187,730). The priciest area within London was Central London (£1,430,941) and the least expensive was East London (£422,321).
During the last year, sold prices in London were 7% up on the previous year and 22% up on 2013 when the average house price was £472,218.