Last year most property sales in London involved flats which sold for on average £451,800. Terraced properties sold for an average price of £588,489, while semi-detached properties fetched £554,544.
London, with an overall average price of £524,502 was more expensive than nearby South East (£327,850), East of England (£263,708) and East Midlands (£173,217). The priciest area within London was Central London (£1,451,305) and the least expensive was East London (£356,821).
During the last year, sold prices in London were 10% up on the previous year and 21% up on 2012 when the average house price was £434,694.