‘Mini-boom’ as London property prices rise by 13%

London's property market surge is gathering pace with prices up 13 per cent in a year, according to latest official figures.

The average London home cost £336,409 in March, a 1.6 per cent rise in a month, Land Registry figures show.

The latest evidence of the strength of the post-recession mini-boom comes the day after Nationwide figures showed prices rising nationally in double digits for the first time in three years.

But the Land Registry numbers — which cover every completed property transaction — show that London's market rising much faster than the rest of the country.

The 13 per cent increase in the capital is higher than any other region with the South-East second on 11.5 per cent but the rest of the country showing more sluggish growth.