Last year most property sales in London involved flats which sold for on average £494,329. Terraced properties sold for an average price of £631,143, while semi-detached properties fetched £625,074.
London, with an overall average price of £572,402 was more expensive than nearby South East (£363,481), East of England (£298,201) and East Midlands (£186,556). The priciest area within London was Central London (£1,419,939) and the least expensive was East London (£419,399).
During the last year, sold prices in London were 7% up on the previous year and 21% up on 2013 when the average house price was £472,195.