The average 11.2% year-on-year increase in London took average prices to £541,313. Here are the prices for each London borough.
London house prices leapt by 11.2% during 2013, an increase which is more than double the national average.
Gumtree, the go-to website for students looking for a cheap room, seems to be moving into the luxury home business!
London prices have risen by 10.9%, according to latest Land Registry figures, the fastest rate since July 2010.
The average price of a home in the capital now stands at £409, 881.
London property sales have grown at the fastest rate in 10 years. Between March and September last year, 100% of London suburbs recorded an increase in sales, compared to the year before.
The North, the West Midlands, Wales and London were named in the Lloyds Bank report as the regions with the biggest proportion of "property hot spots". It also found the biggest increase was in the East London suburb of Newham, which recorded an annual increase of 62%.
The bank has attributed the rise to low interest rates, improvements in consumer confidence and the introduction of government schemes.
Asking prices for houses in London have gone up by 7% since last year, the biggest jump in the country.
The new figures from Rightmove show the average house price in London is more than £500,000.
London is leading the way when it comes to rising house prices in Britain. 22 of the 33 London boroughs have set new records for the average house price last November. The biggest increases were in the boroughs of Enfield Greenwich and Hounslow
Buyers looking to invest in property in London next year may see prices rise by 11%, according to the Royal Institute of Chartered Surveyors.
The increase is being blamed on a shortage of homes coming onto the market.
Prices in the capital are rising faster than elsewhere in the country, with the national average rise just 8%.
Property prices in the Capital have had yet another bumper month according to new figures. The Land Registry figures for September shows prices went up by 1.9% in just one month - an annual increase of 9.3%. It takes the average property in London to £393,462.