Last year most property sales in London involved flats which sold for on average £451,194. Terraced properties sold for an average price of £586,532, while semi-detached properties fetched £553,092.
London, with an overall average price of £523,953 was more expensive than nearby South East (£326,163), East of England (£261,710) and East Midlands (£172,416). The priciest area within London was Central London (£1,459,510) and the least expensive was East London (£355,276).
During the last year, sold prices in London were 11% up on the previous year and 21% up on 2012 when the average house price was £434,673.