London House Prices: £285,000 Median
London's median house price is £285,000, with 2,208,427 recorded sales
Introduction to London's Market
The median house price in London is £285,000, according to the latest data from Sold Price History. This figure is based on 2,208,427 recorded sales in the city. The prices of properties sold in London range from £1 to £540,000,000, indicating a wide variety of properties available in the market.
Long-term Trends
Looking at the long-term trends, the median house price in London has increased significantly over the years. In 1995, the median price was £75,500, which is approximately a quarter of the current median price. The prices have been steadily increasing, with some fluctuations, to reach the current level. For example, in 1999, the median price was £130,000, and by 2007, it had increased to £290,000.
Price per Square Metre
The price per square metre in London is £4,245. This is a useful metric for buyers and sellers to understand the value of properties in different areas of the city. It can help in comparing the prices of properties with different sizes and locations.
Comparison with Early Years
Comparing the early years of the series with the latest data, it is clear that the median house price in London has increased substantially. In 1996, the median price was £82,000, which is less than a third of the current median price. The number of recorded sales has also increased significantly, indicating a more active and dynamic market.
Real-terms Story
To understand the real-terms story, we need to adjust the median house prices for inflation. However, without the inflation data, we can still observe the general trend. The median house price in London has been increasing over the years, with some fluctuations. The increase in prices can be attributed to various factors, including demand and supply, economic conditions, and government policies.
How this Compares
The median house price in London is higher than the national average. According to the data, the median house price in London is £285,000, which is significantly higher than the prices in other parts of the country. This is due to various factors, including the high demand for properties in London, the limited supply of properties, and the economic importance of the city.
Your Questions
- What is the median house price in London?
- The median house price in London is £285,000.
- How many recorded sales are there in London?
- There are 2,208,427 recorded sales in London.
- What is the price range of properties sold in London?
- The prices of properties sold in London range from £1 to £540,000,000.
Figures from HM Land Registry price paid data (Crown copyright, OGL v3.0). — explore the live data on the London page.