- 3 updates
The average cost of a property in London has rocketed to a record of half a million pounds.
The figures released today by property website Rightmove revealed the average asking price in the capital was typically £509, 870.
This figure means London asking prices are more than double the national average, 8.6% higher than a year ago.
The North saw the strongest monthly increase, pushing typical asking prices to £152,689.
The report adds to several studies which have pointed to seller confidence lifting amid signs that home buyers are finding it easier to get access to a mortgage.
The study quoted an estate agent in London, which has had strong interest from overseas buyers, describing activity levels as "ridiculous".
Latest ITV News reports
Figures released today show the average asking price in each London Borough. See how property prices in your area fare.
The average cost of a property in the capital is a record £500,000. Find what that will buy you elsewhere in the UK compared with London.