House prices soar in London

House prices in London rocketed by 7.7 per cent in the year to May, the Land Registry said yesterday – far outperforming the 0.4 per cent rise seen across the UK. The most expensive property sold in May went for £18.5m in central London; the cheapest recent property was sold in Oldham for just £10,000, in April 2012. “London remains the powerhouse of the UK’s housing market,” said Peter Rollings of Marsh & Parsons.