Wandsworth has beaten areas such as neighbours Richmond and Surrey to be named the third most prosperous place in the UK, according to statistics from a Legatum Institute study. 

The Geography of Prosperity index, published on October 17 by the institute, looked at 170 areas across the country and put Wandsworth at number three, beaten only by Hammersmith and Fulham, with Kensington and Chelsea, and Westminster. 

Camden and the City of London came fourth, with the Outer Hebrides coming fifth. The index shows that Scotland is now more prosperous than England. 

Although four out of five of the most prosperous areas are in London, three out of 10 of the least prosperous are also in the capital, with Croydon ranked 163 out of 170 areas.

Richmond, perhaps surprisingly was clubbed together with its western neighbours Hounslow, and came in 74th, while Kingston, Merton and Sutton were joined as a single unit and came in 104th.

Sian Hansen, Executive Director of the Legatum Institute said: “The 'Geography of Prosperity' index reveals that prosperity is about more than just wealth—it is about feeling that one’s life is worthwhile.

"The data shows that Scotland secures four top spots, predominantly due to very high levels of life-satisfaction. Residents of the Outer Hebrides have the highest levels of satisfaction with their lives in the whole country.

"Some of the most prosperous areas of the country are those where, regardless of their income, people have the opportunity to lead healthy, fulfilling and prosperous lives.”

In Wandsworth, the GDP per capita is £133,093 with life satisfaction an average of 7.46. 

The index ranks the areas in the UK based on two different datasets, Eurostat’s data on gross domestic product for UK local areas and the Office of National Statistics' well-being statistics.