Last year most property sales in London involved flats which sold for on average £407,242. Terraced properties sold for an average price of £543,084, while semi-detached properties fetched £503,310.
London, with an overall average price of £479,273 was more expensive than nearby South East (£307,405), East of England (£246,748) and East Midlands (£164,667). The priciest area within London was Central London (£1,238,540) and the least expensive was East London (£317,129).
During the last year, sold prices in London were 7% up on the previous year and 15% up on 2011 when the average house price was £417,937.