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Revealed: The local authorities with the cheapest new-build homes

Revealed: The local authorities with the cheapest new-build homes
Christina Hoghton
Written By:
Christina Hoghton
Posted:
10/07/2024
Updated:
10/07/2024

Erewash in Derbyshire has the lowest median price for newly built housing at just £122,750.

The largely rural borough includes towns such as Ilkeston and Long Eaton, alongside smaller villages.

That’s according to home insurance broker One Sure Insurance, which analysed data from the Office for National Statistics (ONS) to work out which local authorities had the lowest median price for all types of newly built housing last year.

These results were then compared and the prices ranked from the lowest to the highest.

Stoke-on-Trent came second after Erewash, with average new-build prices of £126,858, and the Wirral came third with prices of £135,000.

Cardiff and Liverpool ranked fourth and fifth, with average new-build prices of £155,548 and £170,950 respectively.

Other local authorities in the top 10 include South Tyneside, Swansea, Derby, Dudley and Cumberland.

A spokesperson for One Sure Insurance said: “This study provides valuable insight into the range of prices for newly built housing within local authorities across England and Wales.

“While it does not show us what the highest and lowest prices are, these median price points offer a perspective on the potential average cost for new housing.

“It is notable that both Wirral and Liverpool both rank in the top five positions, along with other large settlements like Stoke-on-Trent and Cardiff.

“This is likely due to the increase of affordable new housing in boroughs that have the most demand for them from their growing population, whilst Erewash’s low pricing comes from its rural positioning.”

Highest new-build prices

Unsurprisingly, Westminster in the centre of London has the highest median new housing price, at an eye-watering £1,809,875.

Related: Revealed: The most expensive streets in Britain