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The Average London Home is £300,000 - The Argus Lite March 06

The average cost of a London home has broken the £300,000 barrier for the first time, figures showed yesterday. House prices in the capital increased by 1.7 per cent during the four weeks to March 11, the third monthly rise in a row, pushing the average cost of property up to £300,719 according to property website, Rightmove.

Prices were also increasing acroos England and Wales as a whole, gaining 0.9 per cent during the period. The increase, which follows a rise of 2.7 per cent in the previous four weeks, left the average home in England and Wales costing £203,399.

The rate of annual growth also increased during the four weeks, rising to 4.3 per cent from 4 per cent for the year to February 12.