Last year most property sales in London involved flats which sold for on average £504,048. Terraced properties sold for an average price of £640,271, while semi-detached properties fetched £629,610.
London, with an overall average price of £580,330 was more expensive than nearby South East (£377,902), East of England (£314,648) and East Midlands (£195,326). The priciest area within London was Central London (£1,599,343) and the least expensive was East London (£446,792).
During the last year, sold prices in London were 3% up on the previous year and 11% up on 2014 when the average house price was £523,689.