Average London house price hits half a million

30th October 2015

London house prices rose 9.6% in the year to September, meaning the average London property now costs £499,997, according to data from the Land Registry. Growth in the capital lifted house prices across England and Wales to their biggest rise in six months as prices rose 5.3%, compared to a 21-month low of 4.3% recorded in August, with the average house in England and Wales now costing £186,553. Prices in the capital are now officially five times higher than the North East, where they have fallen 0.3% to £99,559. Much of the new found bumper London growth is found in areas that had previously lagged behind: Barking and Dagenham, Bexley, Enfield, Greenwich, Harrow, Havering, Hillingdon, Newham, Redbridge and Waltham Forest have all recorded double digit percentage growth compared to last year.

The Daily Telegraph (29/10/2015)