Best location to build revealed
Recent research has indicated that Leeds is the best location to build new homes.
According to Argyll Property Partners, Leeds ranks above all other local authorities due to a combination of house price growth, value, property demand and planning success.
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On average, homes newly built in the city are worth 41% more than properties that already exist in the city, with value steadily growing by around 13% each year.
In comparison to England’s monthly average, property sales in Leeds are almost four times greater, with around 95% of major residential planning applications being approved.
Ranked at the bottom of the table was the South-East local authority of Surrey Heath.
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The analysis indicated that this was largely due to the high property values in the area, resulting in developers having to pay a higher price if they wish to secure a site.
Compared to existing properties in the area, new properties in Surrey Heath are worth around 23% less.