The London property market is showing no signs of a winter lull, with a 5% rise in the average price to £425,486 in November.
That means the average property now costs £20,000 more than in October.
London's property transactions shrugged off the seasonal winter slowdown to grow 2% in November and 56% annually.
Competition for property remains fierce, with 14 buyers chasing every new instruction in London.
Average UK sales rose 1% in November and 32% over the year, according to new figures from estate agent chain Sequence, which owns Barnard Marcus, William H Brown and Fox & Sons.
The average UK property is now worth £209,443, its figures showed.
There are now almost seven new buyers for every new instruction across the UK, the highest level for three years, Sequence said.
Mortgage applications continue to rise, up 40% annually and 3% on month, with first time buyer applications up 49% annually
Sequence chief executive David Plumtree said: “The property market appears to show no signs of slowing as we approach Christmas, with activity levels and house prices remaining buoyant.
“Yet again London is leading the way, with prices up 5% on month and 15% annually.
"These price rises are not deterring buyers, as sales transactions continue to rise at a fast pace.
“There has been a constant flow of new buyers for the last four months, up 1% in November and up 36% annually.”
The latest house price sentiment survey from Knight Frank and Markit also shows that confidence about future house price growth is continuing to grow.
The index hit a new record high, as more households expected the value of their home to rise in December.
Owners in London, the East of England and the South West were most positive about price rises over the last month.
Expectations about future prices also picked up, falling just shy of the post-crisis peak seen back in October
Households in the South East expect the biggest rise in prices over the next year
Those with mortgages expect stronger price growth than those who own their home outright or in the private rented sector.
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