Picking a poor plot could 'cut the price of you home'

In today's market, location is paramount and the site of your home can add thousands to its value, or take thousands away, it has been reported.

New research by estate agents Savills, for the Sunday Times, has revealed that average prices are down 16.4 per cent over the year but blighted properties with location problems have fallen by 24 per cent.

This could mean that an existing home next to a busy rail line may have fallen by as much as a quarter in the last year, even if it is in perfect condition.

One of the benefits of a self build home is that you can pick the plot yourself and are not restricted to delving into the current pool of housing stock for a suitable property.

George Hyde, a partner in Knight Frank’s country-house department, told the newspaper that buyers have become "much more conscious of negatives" and have become pickier.