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Property price hike in London

House prices nationally have seen an uplift for the first time in 9 months, but three quarters of those rises were in London and the South East.

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Average house price in London: £383,000

News a disappointment for people struggling to get on the property ladder Credit: Tim Ireland/PA Wire

Last month the Centre for Economics and Business Research think-tank predicted that the price of a typical London home will hit half a million pounds by the end of the decade.

The economic experts said that the average house in the capital will cost £383,000 this year, rising more than 30% by 2020.

This recent property news is good news for home owners in the capital but a blow for those already struggling to get a foot on the property ladder.

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