Last year most property sales in London involved flats which sold for on average £430,437. Terraced properties sold for an average price of £559,186, while semi-detached properties fetched £523,722.
London, with an overall average price of £498,362 was more expensive than nearby South East (£312,102), East of England (£251,336) and East Midlands (£167,380). The priciest area within London was Central London (£1,308,678) and the least expensive was East London (£337,186).
During the last year, sold prices in London were 8% up on the previous year and 19% up on 2011 when the average house price was £417,962.