Last year most property sales in London involved flats which sold for on average £420,101. Terraced properties sold for an average price of £556,390, while semi-detached properties fetched £515,559.
London, with an overall average price of £490,908 was more expensive than nearby South East (£310,236), East of England (£250,718) and East Midlands (£166,851). The priciest area within London was Central London (£1,251,184) and the least expensive was East London (£332,043).
During the last year, sold prices in London were 8% up on the previous year and 17% up on 2011 when the average house price was £417,967.