Last year most property sales in London involved flats which sold for on average £416,975. Terraced properties sold for an average price of £553,147, while semi-detached properties fetched £512,620.
London, with an overall average price of £488,294 was more expensive than nearby South East (£310,021), East of England (£250,185) and East Midlands (£166,346). The priciest area within London was Central London (£1,230,436) and the least expensive was East London (£330,149).
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 £417,965.