Richmond borough house prices have surged by the second highest in the country in the past ten years – at least in cash terms.

The figure rose from £467,370 to £751,910, which represents a rise of £284,540, according to research by Hamptons using data from the Office for National Statistics (ONS) and Land Registry.

Only Hackney had a higher cash rise in the past decade with the figure up £298,030 to an average of £642,700.

In terms of UK average house sale prices, only Kensington & Chelsea, home to oligarchs, football royalty and aristocracy, and Camden have higher figures. The figure for Kensington & Chelsea is £1.28m with Camden on £842,640.

While the cash rise in Richmond borough was only second to Hackney, the percentage rise of 61 per cent in the past decade was relatively modest compared to many parts of the country.

The top five in terms of percentage increases were Waltham Forest at 119% to an average of £515,320, ahead of Hastings on 115% to an average of £295,030, Thanet at 115% to £318,150, Barking and Dagenham at 113% to £356,960, and Bristol with an increase of 105% to £363,230.

The big increases will be welcomed by Richmond residents who already own their own property, however the borough's high prices confirm how difficult it is for young locals to get a foot on the property ladder. Many are being forced out of the area, leaving family and friends behind, while the area's birth rate has been falling.

Recent Nub News research – using ONS data – showed that the median cost of a home in Richmond borough is an astonishing 20.7 times the media annual salary earned by the borough's workers.

This made Richmond the third worst area in the country in terms of property affordability – behind the central London boroughs of Kensington & Chelsea, and Westminster.

The ONS figures showed that the problem of home affordability has escalated sharply in recent decades. In 1997, the median sale price in Richmond borough was 7 times the median salary, rising to 12 by 2007 to 19.9 in 2017 and is now 20.7.

The figures will put pressure on Richmond Borough Council to step up house building in the borough.

A number of major schemes are currently in the pipeline, including Stag Brewery site, Mortlake, Homebase, in North Sheen, Twickenham Riverside, Kew Retail Park, Ham Close and Barnes Hospital.