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Average property price tag in the capital is now £499,997

House values fell in North East and are now five times lower than London

Overall, average home now costs £186,553 across England and Wales

September property prices in England and Wales were up 5.3 per cent compared to a year ago - largely led by a revival in 'up and coming' pockets of London, official figures show today.



The Land Registry, which records actual sale prices, said that In the capital values rose 9.6 per cent compared to September 2014, meaning the average property now has a price tag just £3 short of £500,000.

Although house values have continued to go up across London, the rate of growth has been slowing since a peak last summer. At one point, prices were soaring by an annual 20 per cent.


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