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