Even though nationally property has had its lowest growth rate in over 20 months, it seems  London house prices have still seen an increase of nearly 11 per cent.

Londons annual price increase of 10.9 per cent takes the average property value to £487,649 on the whole.

The news follows the leader of the borough of Kingston Kevin Davis describing affordable housing in London as a “myth”.

Mr Davis said: “It’s a myth that we have been perpetuating that there is such a thing as affordable housing.

“The reality is we are going to start pushing the young out of London.”

Even though London is bucking the national trend, the speed of growth is slowing down. London house  values have increased by just 0.9 per cent in the last quarter compared to the usual  3 per cent it has been in the last 3 years.