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London house prices rise at record annual rate of 20.1%

The average home in the capital now costs £492,000, compared to £262,000 nationally, according to the ONS.

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Annual house price rise 'sharpest since records began'

The annual increase for London house prices is the sharpest since records began in 2002.

House prices are increasingly strong across most parts of the UK, with prices in London again showing the highest growth.

– Office for National Statistics
  • Prices rose by 9.6% in the South East
  • 8.6% in the East
  • Outside London and the South East, annual price increases averaged 6.4%

Source: ONS

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