This is according to analysis by Compare My Move which has studied house price data to establish where homebuyers can get the best deal on a newly-built property.
Thanks to schemes such as Help to Buy: Equity, new build properties are in high demand. Indeed, to be eligible for the government scheme, which provides a 20% loan for first-time buyers who want to get onto the property ladder, applicants must purchase a new build.
However, properties in these developments can often come with a premium price tag which can make it difficult for those with a small deposit to afford one.
The new data on the cheapest and most expensive areas to purchase a new build will offer a useful guide to anyone who wants to find the most affordable locations.
Indeed, while the North of England and Scotland feature heavily in the top cheapest areas it will come as no surprise London dominates the list of locations with the most expensive new builds.
Here are the top ten lists, in full:
Top 10 cheapest areas to buy a new build (Source: Compare My Move)
| Rank | Local authority | Region | New build average price |
| 1 | Hyndburn | North West | £99,034 |
| 2 | North Ayrshire | Scotland | £126,036 |
| 3 | Burnley | North West | £128,613 |
| 4 | Inverclyde | Scotland | £149,608 |
| 5 | Hartlepool | North East | £153,681 |
| 6 | Stockton-on-Tees | North East | £154,181 |
| 7 | East Ayrshire | Scotland | £158,600 |
| 8 | County Durham | North East | £159,751 |
| 9 | Argyll and Bute | Scotland | £160,179 |
| 10 | Blackpool | North West | £160,502 |
Top 10 most expensive areas to buy a new build (Source: Compare My Move)
| Rank | Local authority | Region | New build average price |
| 1 | Kensington and Chelsea | London | £1,167,805 |
| 2 | Westminster | London | £1,006,564 |
| 3 | City of London | London | £930,033 |
| 4 | Camden | London | £820,735 |
| 5 | Elmbridge | South East | £752,483 |
| 6 | Hammersmith and Fulham | London | £671,776 |
| 7 | Rochford | East | £643,833 |
| 8 | Islington | London | £636,980 |
| 9 | Hackney | London | £635,482 |
| 10 | Merton | London | £629,850 |
Dave Sayce, managing director at Compare My Move said although price was important there were other factors to consider when searching for a new build property. Indeed, there were many cons as well as pros.
He explained new builds tended to suit buyers who wanted somewhere which needed no work.
“Most new builds allow you to customise the property to be as bespoke as you like, from choosing the fittings to paint colours,” he said.
“The purchasing process can also be easier, as once you reserve the property it is taken off the market.”
However he also warned the process from reservation to the completion of construction can be lengthy, so it might not be the best option for anyone who wanted to move straight away.
Sayce added: “Our research shows a north-south divide when it comes to the price of new builds, with London and the South East being the most expensive areas to buy a new build property, whereas the North of England and Scotland dominate the cheapest areas.
“Although new builds typically offer lower repair and maintenance costs, as well as being more environmentally friendly than existing properties, historical homes do have their benefits. Older properties usually provide lots of character, with features unique to their period, as well as more space and potential to add your own stamp.”
