Area type
Region
Population
8,796,628
Average detached price
£1,337,163
Average semi-detached price
£791,634
Average terraced price
£801,860
Average flat price
£543,134
View trend
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The average property price paid in London is £705,236 according to property sale data for the year ending June 2022 published by HM Land Registry. Between the years ending June 2021 and June 2022, property prices in London grew by £39,683. Compare house prices by area
Average property prices in London grew by 6.0% between the years ending June 2021 and June 2022. Between the years ending June 2012 and June 2022, property prices on average grew by 5.3% per year.
If prices in London continue to rise by 5.3% a year, the average property price will be £866,369 in 2025.
The most expensive property prices in London are found in Inner London, and the cheapest property prices are found in Outer London.
There were 89,504 property sales in London in the year ending June 2022, an increase of 3,729 when compared to the previous year.
The average price for a house in London ranges from £801,860 for a terraced house to £1,337,163 for a detached house, with semi-detached costing on average £791,634.
The average price for a flat or maisonette in London is £543,134.
Price trends for small areas may be less statistically significant due to small sample sizes.
Of the property types in London, semi-detached house prices have risen the most between the years ending 2012 and 2022, and flat prices have grown the least.
Detached house prices have risen 76.2% from £758,979 to £1,337,163, semi-detached house prices have risen 76.5% from £448,564 to £791,634, terraced house prices have risen 71.8% from £466,858 to £801,860, and flat prices have risen 52.5% from £356,044 to £543,134.
The most common type of property sold in London during the year ending June 2022 was flats, which accounted for 32.2% of properties.
The least commonly available type of property sold in London were detached houses, which account for 3.9% of properties sold.
Of the properties sold in London during 2022, 1.7% were new build properties.
The average premium for a new build property in London was £88,700 higher than the average price paid for an existing property.
Of the new build properties sold, the most common type was flats (97% of new build properties sold). For existing properties, the most common type is flats (47% of existing properties sold).
Rental Market of London
London Crime
London population
The most common price band for property sales in London is £400k - £500k, which accounted for 12.5% of properties sold in 2022.
9.8% of properties in London had a price over £1 million. For comparison, in England, 1.7% of property sales were priced at over £1 million.
The cheapest properties in London were in the £50k - £100k price bracket, accounting for 0.1% of sales.
The cheapest property prices in London are found in Outer London, where the average cost of a property is £577,708. Between the years ending June 2021 and June 2022, property prices have changed by 3.8% in Outer London (compared to 6.0% in London)
Rank | Area | Average property price | YoY change in price |
|---|---|---|---|
| 1 | Outer London Metropolitan County | £577,708 | 3.8% |
| 2 | Inner London Metropolitan County | £913,154 | 9.5% |
The most expensive property prices in London are found in Inner London, where the average property price is £913,154. Between the years ending June 2021 and June 2022, property prices have changed by 9.5% in Inner London (compared to 6.0% in London)
Rank | Area | Average Property Price | YoY CHANGE in PRICE |
|---|---|---|---|
| 1 | Inner London Metropolitan County | £913,154 | 9.5% |
| 2 | Outer London Metropolitan County | £577,708 | 3.8% |
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2022. Data sources: ONS Local statistics