Last year most property sales in London involved flats which sold for on average £400,629. Terraced properties sold for an average price of £528,015, while semi-detached properties fetched £488,658.
London, with an overall average price of £470,651 was more expensive than nearby South East (£302,478), East of England (£242,276) and East Midlands (£162,523). The priciest area within London was Central London (£1,205,817) and the least expensive was East London (£304,529).
During the last year, sold prices in London were 9% up on the previous year and 16% up on 2010 when the average house price was £406,344.