Last year most property sales in London involved flats which sold for on average £402,894. Terraced properties sold for an average price of £540,414, while semi-detached properties fetched £497,840.
London, with an overall average price of £476,197 was more expensive than nearby South East (£305,622), East of England (£246,066) and East Midlands (£164,422). The priciest area within London was Central London (£1,221,222) and the least expensive was East London (£313,845).
During the last year, sold prices in London were 8% up on the previous year and 14% up on 2011 when the average house price was £417,967.