London property prices soar
Property prices have risen by more than 10 per cent
Land Registry data for the second quarter of this year showed the average price of a home sold in Greater London in the three months to June 2012 was £457,753.
This was up from £401,598 in the first quarter of the year, despite the number of sales going through dropping slightly.
The most explosive change was in terraced house prices, which increased by a fifth to an average of £526,655.
This made terraces significantly more expensive than semi-detached houses, which grew by a meagre 2 per cent to an average of £463,851.
Average selling prices for detatched houses broke the three-quarters of a million pound barrier, coming in at £750,373.
Flats and maisonettes were worth little over half this amount at an average of £388,408.
Westminster boasted the most expensive homes, with detached houses going for an average of £4.2 million.
Flats in Barking and Dagenham were the most affordable London homes at an average of £130,936.