London homes increased in value by more than twice the average person’s income last year, figures show.

The typical value of properties in the capital rose by £63,000 in the last year, reaching an average of £458,000.

The surge came amid record rises in home prices across the country, according to figures published on Tuesday by the Office for National Statistics (ONS), prompting warnings of “runaway train” increases. Experts said the rise in London prices was particularly “extraordinary” when separate figures issued on the same day showed that inflation had fallen to a four-year low.

The average property price in the UK is now £253,000 – up by almost £50,000 compared to 2010 prices. The typical home in London now costs £458,000.

The majority of the country is now seeing strong year-on-year growth in property prices, according to the report. The steepest rise was in London, while the smallest percentage increase, of 2.4 per cent, was in property prices in Scotland.