Last year most property sales in London involved flats which sold for on average £476,450. Terraced properties sold for an average price of £615,721, while semi-detached properties fetched £602,084.
London, with an overall average price of £556,350 was more expensive than nearby South East (£357,016), East of England (£292,004) and East Midlands (£186,234). The priciest area within London was Central London (£1,364,805) and the least expensive was East London (£401,398).
During the last year, sold prices in London were 5% up on the previous year and 18% up on 2013 when the average house price was £472,264.