Westminster most expensive local authority with £1.8m new build costs

Westminster has been revealed as the most expensive local authority in England and Wales, in terms of new housing build costs.

According to One Sure Insurance, the median price for new housing in Westminster is £1,809,875.

This is the highest median price for new builds out of all local authorities in England and Wales and based on data from the Office for National Statistics.

Westminster ranked the highest due to its central location, and proximity to business and government hubs.

Lambeth was the second most expensive, with a median new housing price of £1,241,949.

Hammersmith and Fulham ranked third with £1,137,613.

Out of the 20 most expensive local authorities, 10 are located in London with five in the south east of England. None of these were in the north, midlands, south west or Wales.

The 20th most expensive local authority, using the median price for new build metric, was Waverley in the south east with £594,000.

A spokesperson for One Sure Insurance added: “It is notable that every borough in the top 20 positions is either based in London or somewhere in the south of England, which is likely because of how close they are to the capital or the south coast.
“There are also many boroughs in the upper half of the list that lack of data for most types of housing. This might mean they either only have recorded pricing data for newly built flats and maisonette houses, or they were the only housing types available in those areas last year, which may be indicative of the current housing market.”

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