Last year most property sales in London involved flats which sold for on average £439,440. Terraced properties sold for an average price of £579,932, while semi-detached properties fetched £539,414.
London, with an overall average price of £512,265 was more expensive than nearby South East (£319,216), East of England (£255,726) and East Midlands (£169,487). The priciest area within London was Central London (£1,373,731) and the least expensive was East London (£346,125).
During the last year, sold prices in London were 10% up on the previous year and 23% up on 2011 when the average house price was £417,946.