The latest house price information for Richmond suggests the borough has – so far – escaped the falls seen in many parts of the country.

Figures for September sale prices put the average figure across all property types at £780,053, which was up from £774,858 on August.

At the same time, the figure was some £41,727 higher than the same month in 2021, which translates to annual growth of 5.7%.

The figures come from the Office for National Statistics (ONS) and Land Registry and provide the most reliable picture of price movements.

The details for specific property sale prices in September show:

* Average sale price for detached properties was £1,727,025, which was up from £1,712,715 in August. The annual increase was 5.6%.

* Average sale price for terraced homes was £902,715, which was up from £893,457 in August. The annual increase was 7.1%.

* Average sale price for flats and maisonettes was £505,619, which was up marginally from £505,338 in August. The annual increase was 3.2%.

The ONS figures show that national house prices in September showed no change from August, which was the first time it has not seen an increase in almost a year.

Historically, Richmond has been largely immune to slumps in property prices, largely because it is considered a desirable place to live. However, it remains to be seen whether the falls predicted for other areas in the coming year will be mirrored in the borough.

Chief Economist of the Royal Institution of Charetered Surveyors, Simon Rubinsohn, says there is clear evidence of buyer caution amid rising mortgage costs.

He said: "As a result, the volume of activity is likely to slip back over the coming months and realistic pricing is now much more important to complete a sale.

"The settling down in financial markets could provide some relief although it may be premature to assume this will be reflected in a reduction in lending rates anytime soon."