- 6 updates
London houses prices are up almost a third on their pre-crash peak in 2008.
- New figures suggest the average house in price in London has already topped half a million pounds
- The latest house price survey from the Office of National Statistics put the average price in April at £485,000
- The survey revealed an increase of £26,000 on March
- If that pace of rising prices continues, figures for May are likely to show an average price in excess of £500,000
Labour used the latest figures to attack London mayor Boris Johnson. London Assembly member Tom Copley said:
The average house price in London now is £485,000 according to latest official figures.
The average price in London rose £26,000 in a month, putting an end to speculation about any cooling off of the property market.
Latest ITV News reports
New figures which explode the myth of a slowdown in London's housing market are likely to be met with dismay and delight in equal measure.
The average price of a home in London hit £485,000, according to the latest figures from the Office of National Statistics.