50% of London Properties over £500,000

50% of London Properties over £500,000

The average cost of a home has broken the £500,000 mark in more than half of London postcodes.

Data from the Land Registry* shows that, of 32 specified London regions, 20 of them had an average house price of over £500,000.

According to the Land Registry, average London property now costs £564,000.

Meanwhile, property outside London had an average price of less than £500,000 in 99.4pc of postcode districts around the country.

The news will trouble those who are looking to buy in London as part of the Help to Buy London scheme: The Land Registry has also released figures claiming that prices have moved past £300,000 in all boroughs, and are increasing fastest in the least expensive areas.

See a list of the London regions on this pdf file.

Please contact your local Ellis & Co office today for more information about the London property market.

*Data accurate for December 2015