Last year most property sales in London involved flats which sold for on average £459,004. Terraced properties sold for an average price of £587,315, while semi-detached properties fetched £562,971.
London, with an overall average price of £531,800 was more expensive than nearby South East (£337,288), East of England (£276,709) and East Midlands (£178,326). The priciest area within London was Central London (£1,411,905) and the least expensive was East London (£371,350).
During the last year, sold prices in London were 4% up on the previous year and 22% up on 2012 when the average house price was £434,699.