​London house prices: Land Registry figures reveal the average cost of buying a London home reaches almost £475,000

Latest figures from the Land Registry reveal there are just three London boroughs where average property prices are still below £300,000 - all in the east or south-east of the capital.
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The average price of buying a London home has risen to £474,544, according to the Land Registry.

A regional breakdown of latest official figures, for sales in England and Wales completed and registered in April, shows prices rose fastest in London during the past 12 months with an annual increase of 10.9 per cent, while the South-East saw an 8.8 per cent average rise.

The average house price for England and Wales has increased by 5.1 per cent in a year, and now stands at £179,817, compared with the peak of £181,014 in November 2007.

There are now only three boroughs in the capital where average property prices are below £300,000 - Barking and Dagenham and Newham in the east, and Bexley in south-east London.

Newham has had the highest annual price increase, of 17.2 per cent, taking the average cost of a home in areas such as Canning Town, Forest Gate and West Ham to £295,306. 

Hackney has once again recorded the biggest monthly rise, at 2.1 per cent, taking the average price for the area to £616,004. 

Meanwhile, prices in east London's Waltham Forest - which includes Walthamstow, Leytonstone and Chingford - have fallen by 1.8 per cent to an average £359,329.

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