London house prices 'to rise by 16% in 2014'

London's house prices are expected to rise 16% in 2014, putting the price of a home in the capital at £466,000, £224,000 more than the average UK home, according to new Cebr forecasts.

A shortage of housing in London coupled with high demand to live in the capital is resulting in a boost to house prices.

New how that a typical house in the UK is expected to cost £242,000 in 2014, rising by 6.9% compared to 2013.