A study by an insurance firm shows that newly built houses in Waverley are some of the most expensive in the South East.

The borough was ranked fifth most expensive in the region in the One Sure study with a median new housing price of £594,000. That’s more than double the equivalent in Crawley as the same figure is £223,500 in the West Sussex new town.

The Labour government hopes to bring down median prices by upping the pace of development and increasing housebuilding targets despite 6,000 homes in Waverley being unbuilt.

A spokesperson for One Sure Insurance said: “This study provides valuable insight into the range of prices for newly built housing within local authorities across the South East.

“While it does not show us what the highest and lowest prices are, these median price points offer a perspective on the potential average cost for new housing.”