Last year most property sales in London involved flats which sold for on average £466,589. Terraced properties sold for an average price of £604,529, while semi-detached properties fetched £592,596.
London, with an overall average price of £545,709 was more expensive than nearby South East (£350,465), East of England (£287,058) and East Midlands (£183,709). The priciest area within London was Central London (£1,299,028) and the least expensive was East London (£391,805).
During the last year, sold prices in London were 4% up on the previous year and 16% up on 2013 when the average house price was £472,286.