Westminster has the highest median price for newly built housing out of all local authorities in England and Wales, a study has revealed.

According to home insurance broker One Sure Insurance’s analyses of ONS data, the median value of a home built in the London borough last year is £1,809,875. This area primarily has high-rise flats for purchase and sits in the centre of the city with many of the most important buildings in London.

Lambeth ranked second, with a median new housing price of £1,241,949, and Hammersmith and Fulham, London came close behind in third at £1,137,613 a unit.

Hackney, meanwhile, ranked fourth, with a median new housing price of £949,050.

Hertsmere in Hertfordshire came fifth with a median new housing price of £932,500.

The top 20 most expensive newbuild areas in England are almost exclusively in London and the South East.

Rank  Local authority  Region  Median price paid for all types of newly built housing (£) 
1.  Westminster London 1,809,875
2.  Lambeth London 1,241,949
3.  Hammersmith and Fulham London 1,137,613
4.  Hackney London 949,050
5.  Hertsmere East of England 932,500
6.  Woking South East of England 886,250
7.  New Forest South East of England 850,000
8.  Broxbourne East of England 795,000
9.  St Albans East of England 775,000
10.  Islington London 751,549
11.  Camden London 685,713
12.  Cambridge East of England 673,148
13.  Wandsworth London 650,000
14.  Mid Sussex South East of England 607,500
15.  Haringey London 600,000
16.  Barnet London 595,000
17.  Southwark London 595,000
18.  Oxford South East of England 595,000
19.  Uttlesford East of England 594,995
20.  Waverley South East of England 594,000

 

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 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. Both locations may be desirable places to live for new houseowners due to being business and tourism hubs, respectively.

“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.”