The study uses data from GOV UK, Rightmove, and Checkatrade to determine where holds the best potential to renovate a home.
Flooring specialist Mr Sander looked at four key factors: median house price, planning approval rate, tradesperson reviews, and the percentage of homes deemed to have renovation potential.
And it identified Wolverhampton as the best place to start a project in the UK.
The town has a median house price below the national average, at £193,707, a planning approval rating of 93.7%, 42% of homes with renovation potential, and a tradesperson score of 9.9.
In second place is Sandwell, another West Midlands area, where the median house price is £199,977, the planning approval rate is 92.9%, and there is a percentage of 43.7% houses that hold potential.
County Durham ranks third, with an overall score of 75.35. The median house price is £127,727, with a high planning approval rate of 95.8% and 22% of homes showing renovation potential.
Renovation hotspots
The top 10 renovation hotspots are listed below, along with the average property price:
1. Wolverhampton – £193,707
2. Sandwell – £199,977
3. County Durham – £127,727
4. Burnley – £103,386
5. Gateshead – £160,990
6. Darlington – £157,386
7. South Tyneside – £156,901
8. City of Plymouth – £223,469
9. St Helen’s – £181,134
10. Amber Valley – £236,935
Anthony Miller, CEO of Mr Sander, said: “This latest study reveals the prime locations in the UK ideal for initiating renovation projects, highlighting the regions with significant renovation potential and shedding light on the key factors that inform successful property transformations.”
Renovation ‘not-spots’
Kensington and Chelsea is identified as the area where it is hardest to start a renovation project.
The area ranks lowest in the UK, with a median house price of £1,154,639, a planning approval rate of 85.6%, 3.8% of homes with renovation potential, and a tradesperson score of 9.9, resulting in an overall score of 29.71.
Islington is the second-lowest, with a median house price of £645,134, a planning approval rate of 80.3% and 4.7% of homes with renovation potential.
Third from the bottom is Hackney, with a median house price of £589,517, a planning approval rate of 79.2%, approximately 4.8% of homes showing renovation potential, and a tradesperson score of 9.9.
