The cost of building a new home in 60 local authority areas in the UK is almost equal to or higher than its market value, a new Housing Forum report has revealed.

Construction costs for an average-sized three-bedroom semi-detached house in “the easiest possible setting” are estimated at £133,000.

However, the report highlights that once fees for external works, planning, ‘abnormal’ expenses, and new building and environmental regulations are taken into account, the total figure rises to £251,700.