New figures from online estate agent Rightmove released this morning show average asking prices in London are £581,074, compared to £285,891 nationally.
But prices in the capital have actually dipped so far this month, falling 2.3% compared to April. Nationally the average asking prices slipped by just 0.1% and London registered the biggest monthly fall.
Rightmove put the slump down to pre-election jitters. London would have been hit hardest by Labour's mansion tax ($4).
Unfortunately Rightmove don't expect house prices to continue to cool, with $4 giving both buyers and sellers more confidence.
Rightmove's housing market analyst said: "This is an election-driven price stall which gives some buyers only short-term relief from the back-drop of a long-term housing shortage, and many estate agents are now reporting a resurgence in interest following the surprise election result."