Derelict properties in the South East are attracting average asking prices of £237,500, according to new data from property portal LandSale, highlighting the continued value of development opportunities in the region.
The figures show the typical asking price for a derelict property across Britain stands at £122,500, with an average plot size of 6.26 acres. However, in the South East, plot sizes are considerably smaller at 1.42 acres on average.
Regional variations
The North West ranks second for asking prices, where derelict properties command £213,750 on average. Buyers in this region receive larger plots, averaging 10.37 acres.
In the East Midlands, the typical asking price stands at £200,000, whilst in Wales it reaches £195,000. Yorkshire and the Humber sees average asking prices of £150,000.
The lowest asking prices are found in the South West at £67,500, followed by Scotland at £75,000.
Market context
Adam Morris, founder of LandSale, said: “Paying close to £240,000 for what may essentially amount to a derelict shell or, in some cases, little more than a pile of bricks and a plot of land, certainly demonstrates just how valuable property opportunities remain in parts of Britain.”
He added: “But derelict properties shouldn’t necessarily be viewed as housing that has simply fallen into disrepair.”
The data comes as UK house prices have experienced recent fluctuations, with the latest Lloyds HPI showing the average property price overall at £298,468.
The figures indicate that derelict properties in prime locations command prices approaching 80% of the national average for standard homes, reflecting demand for development opportunities across the UK property market.
