Research by the Whitehill & Bordon Regeneration Company reveals that new-build homebuyers in pricey Surrey can save 25% by taking a short hop over the county border to Hampshire.
Within the South East, one of the most desirable buying locations is the county of Surrey, bordering London and constantly in demand with city workers making a home in the countryside. As a result, Surrey’s average new-build asking price is 29% higher than that of the South East.
Pricer still is the Surrey town of Guilford where asking prices are nearly 12% higher than the county average. But looking just across the border, and just a 15-minute drive from Guildford, the county of Hampshire can offer a far more affordable foot on the new-build property ladder. Here, the average cost of a new-build house comes in -25% lower than that of Surrey, a marked saving for buyers who are willing to slightly extend their search radius.
In fact, simply stepping over the Surrey-Hampshire border from Waverly to East Hampshire would instantly benefit buyers with an -8% drop in the average price of a new-build.
The most affordable postcode for a new-build property purchase in East Hampshire is GU35, covering among others, Whitehill & Bordon, Lindford, and Oakhanger. Within this postcode, new-build house prices are -40% lower than East Hampshire’s most expensive postcode, GU10, which straddles the Surrey-Hampshire border.
However, new-build prices in the GU35 area are set to rise in the near future as Whitehill & Bordon has become the focus of extensive regeneration plans, with an abundance of new homes already bringing significant growth to the local housing market.
The Whitehill & Bordon Regeneration Company is responsible for developing and delivering Prince Philip Park, a brand new, tech-first, sustainable neighbourhood complete with almost 2,500 brand new homes, in Whitehill & Bordon, East Hampshire. Historically a military town, the army has long since left the area, leaving Whitehill & Bordon in a prime position for regeneration.
The regeneration project is bringing a new lease of life to a long-standing town, enticing a new community of professionals and young families who are attracted by the glorious natural beauty and impressive amenities that Prince Philip Park puts right on the doorstep.
While prices today remain low in Whitehill & Bordon, the delivery of Prince Philip Park, its attractions and its houses, is going to result in a heightened level of homebuyer demand in the area. As this builds, house prices are expected to climb rapidly, making this old military town one of the very best investment spots for budding homeowners and buy-to-let landlords in the current market.
James Child, Project Lead at the Whitehill & Bordon Regeneration Company, says: “House prices across the country are hitting unbelievable highs. Demand is as strong as it’s ever been while supply remains stagnant. This is probably more true for the South East than most other regions.
“The new homes we are building in Prince Philip Park will go a long way to satisfying local demand and, we hope, attract more buyers from further afield, not least those looking to escape London and build a life in this commutable and beautiful part of Hampshire.
“As this project progresses over the coming years, we expect the population of Whitehill & Bordon to increase significantly. This increasing interest in the town will help cultivate the local economy, so while it remains one of the region's most affordable buyer hotspots today, rest assured this won’t last long.”
