Areas in once-unfashionable parts of London have seen average property prices hit half a million pounds for the first time.
Prices in South Acton, in the borough of Ealing in west London, hit £628,557 in the year to May, making it one of the most expensive places in zone 3.
Peckham Rye, a relatively poor area in south London made famous by the Eighties sitcom Only Fools and Horses, recorded average sale prices of £553,894 over the year, according to Savills.
The data takes into account all property sales over the year to May, from one-bedroom flats to family homes.
Prices in Peckham have rocketed as the area becomes more trendy Photo: Ray Tang/Rex Features
Other parts of South London are also seeing prices rocket, as home buyers are priced out of areas closer to the centre of the capital.
The average property in West Wickham, Bromley, will now set homebuyers back £501,256. West Wickham attracts buyers keen to be surrounded by green space, but with quick transport links to the City.
It is also near to Croydon, an area that is undergoing extensive development and is due to have a Westfield shopping centre by 2018.
However, Croydon isn't popular with everyone, with a newspaper in France recently branding it a "dull, sad and monotonous" suburb, after its journalists were sent there to cover their national team in the Rugby World Cup.
Croydon was recently described as "dull and sad" by a French newspaper Photo: Paul Grover
In Zone 2, Balham, West Hampstead and Shaftesbury in Wandsworth are among the most expensive areas, with average prices topping £823,000, £821,000 and £754,152 respectively.
However, this doesn't come close to Highgate in North London, which recorded average house prices of £1,301,995 over the year to May.
View towards aflluent Highgate from Hampstead Heath Photo: ALAMY
Prices in popular London locations are expected to rise by 18.2pc over the next five years, according to Savills. The estate agency said last year's stamp duty reform, very low inflation and the mortgage market review has moderated London’s prime housing markets over the short term, but price growth is expected throughout the rest of the decade.
“We expect the depth of the market and the maturity of London as a global city, coupled with job creation and economic growth forecasts to return to long term trend rates of real price growth, particularly, but by no means exclusively, in core prime central London locations," said Lucian Cook, head of residential research at Savills.
Barking and Dagenham, in east London, are the most affordable areas, with average one-bed flats costing less than £200,000.
45 wards over £500k average price in year to May 2015
- South Acton, Ealing, £628,557
- Kilburn, Brent, £611,315
- Chislehurst, Bromley, £600,462
- Winchmore Hill, Enfield, £595,906
- Herne Hill, Lambeth, £587,339
- Fulwell and Hampton Hill, Richmond upon Thames, £584,114
- Ickenham, Hillingdon, £580,587
- Pinner, Harrow, £574,436
- Blackheath, Lewisham, £567,691
- Dudden Hill, Brent, £565,235
- Victoria, Hackney, £564,264
- Surbiton Hill, Kingston upon Thames, £562,038
- Pinner South, Harrow, £561,341
- Peckham Rye, Southwark, £553,894
- Dalston, Hackney, £550,525
- Haggerston, Hackney, £550,349
- Hatch End, Harrow, £545,554
- East Finchley, Barnet, £545,037
- Southgate Green, Enfield, £544,536
- Tollington, Islington, £543,633
- Shortlands, Bromley, £543,226
- Canbury, Kingston upon Thames, £542,893
- Hendon, Barnet, £539,024
- Ferndale, Lambeth, £537,101
- South Camberwell, Southwark, £535,893
- Abbey, Merton, £534,016
- Wanstead, Redbridge, £532,663
- Kilburn, Camden, £531,428
- Lordship, Hackney, £529,320
- Bow West, Tower Hamlets, £525,396
- Larkhall, Lambeth, £525,299
- Darwin, Bromley, £520,740
- West Barnes, Merton, £518,202
- Oakleigh, Barnet, £517,357
- Hackney Central, Hackney, £517,269
- Graveney, Wandsworth, £516,956
- Greenwich West, Greenwich, £514,664
- Tooting, Wandsworth, £514,083
- Harringay, Haringey, £513,544
- Canons, Harrow, £511,375
- Petts Wood and Knoll, Bromley, £509,952
- Finsbury Park, Islington, £509,051
- College Park and Old Oak, Hammersmith and Fulham,£505,595
- The Lane, Southwark, £501,320