Last year most property sales in London involved flats which sold for on average £492,707. Terraced properties sold for an average price of £634,410, while semi-detached properties fetched £622,611.
London, with an overall average price of £572,949 was more expensive than nearby South East (£362,068), East of England (£297,398) and East Midlands (£186,134). The priciest area within London was Central London (£1,423,527) and the least expensive was East London (£416,533).
During the last year, sold prices in London were 8% up on the previous year and 21% up on 2013 when the average house price was £472,202.