Latest Land Registry figures reveal the average cost of buying a London home now tops £435,000

London house prices are rising at record rates, according to the latest Land Registry figures.
The average price of buying a London home has risen to £435,034, according to the latest Land Registry figures. The latest monthly increase of 4.2 per cent adds more than £17,000 to the average cost of buying in the capital.


Meanwhile, the April data puts the average house price in England and Wales at £172,069, compared with a peak of £181,572 in November 2007.

Peter Rollings, CEO of Marsh & Parsons estate agents, comments that "2014 saw one of the busiest starts to the year, and up against such limited housing stock and fierce competition for available properties, buyers were left with very little breathing space. House price rises may have grabbed the headlines this year – but double-digit annual increases are not sustainable, and as the market self-regulates, sellers and estate agents need to adjust their price expectations accordingly."

The latest figures, which are for sales that have been completed and registered during the month of April 2014, record a 17 per cent hike in London house prices during the past 12 months - the highest since April 2003 - as demand continues to outweigh supply in what Rollings describes as a ‘seller’s market’.

The London borough with the highest annual price rise is Waltham Forest, with a 26.2 per cent increase taking the average price of buying a property in the area to £323,288. Ealing recorded the highest monthly increase and Hillingdon the lowest.

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