House prices in Richmond have seen a pandemic boom with the average sale figure rising faster than anywhere else in London.

The increase was put at 17.3% since the end of 2019, which added over £100,000 to the average sale price taking it up to £765,107, according to experts at Capital Economics.

Their analysis of figures from the Office for National Statistics and Land Registry show a rise of 11% in the last year alone, which is well above the average for London of 8.1%.

The situation in Richmond borough is in stark contrast to some other boroughs which have seen a drop. For example, over the past 12 months there was a fall of 2.1% in Tower Hamlets and 2.9% in Southwark.

Senior economist at the firm, Andrew Wishart, is predicting further increases over the next few months amid a shortage of properties, saying: "New buyer enquires are rising faster in the capital than elsewhere. The result has been homes selling faster, which will support price growth in the near term."

He said: "Despite the permanent increase in working from home, the end of pandemic restrictions has triggered a resurgence in demand in London's rental and house purchase markets.

"Annual inflation in the ONS House Price Index for London has already risen from 3.8% in January to 8.1% in February, and more timely indicators point to a further acceleration in the near term."

He expects a slowdown later this year on the back of rising interest rates and the cost of living squeeze, saying: "With mortgage affordability more stretched in the capital than in other regions, we expect rising mortgage rates to cool house price inflation later in the year."