Editor's note: This brief was summarised by The Property AI Team from a report by The Negotiator. Read the original article for full details.
Derelict Properties in South East Command Nearly £240,000
Derelict properties are attracting average asking prices of nearly £240,000 in some UK regions, according to new figures. The property portal LandSale reports that development opportunities in the South East are reaching £237,500.
Across Britain, the typical asking price for a derelict home stands at £122,500, with an average plot size of 6.26 acres. In the South East, the average plot size is 1.42 acres. The North West ranks second, with derelict properties commanding a typical asking price of £213,750 and an average plot size of 10.37 acres.
In other regions, the typical asking price for derelict properties is £200,000 in the East Midlands, £195,000 in Wales, and £150,000 in Yorkshire and the Humber. The lowest typical asking prices are found in the South West at £67,500, followed by Scotland at £75,000.
The latest Lloyds HPI, released this week, shows the average property price overall in Britain is now £298,468.
These figures highlight the ongoing value of development opportunities for letting agents and inventory clerks, particularly in regions where derelict properties are commanding high prices.
Source: The Negotiator