Ian Scott International


Average London house price hits £500,000 as capital’s housing market shows no sign of losing steam

Prices in the capital rose almost 10pc in year to September, boosting the average house price across England and Wales

London house prices continue to outpace those in the rest of the UK, with the average property hitting £500,000.

Prices rose 9.6pc in the year to September, meaning the average London property now costs £499,997, according to data from the Land Registry.

The capital’s stellar growth lifted house prices across England and Wales to their biggest rise in six months.

Prices rose 5.3pc, compared to a 21-month low of 4.3pc recorded in August. The average house in England and Wales now costs £186,553.

The Land Registry’s house price index is based on completed house transactions and is seen as a bellwether of sentiment in the housing market.

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