Last year most property sales in London involved flats which sold for on average £472,783. Terraced properties sold for an average price of £612,175, while semi-detached properties fetched £597,955.
London, with an overall average price of £552,201 was more expensive than nearby South East (£355,437), East of England (£290,324) and East Midlands (£185,883). The priciest area within London was Central London (£1,330,910) and the least expensive was East London (£400,846).
During the last year, sold prices in London were 4% up on the previous year and 17% up on 2013 when the average house price was £472,269.