Mon, 17 Sep 07
Terraced houses have seen the biggest price rises over the last ten years, a new report from Halifax Estate Agents shows...
Over the last ten years the average UK terraced house price has increased by 239% closely followed by flats and maisonettes at 235%.
Over the last five years the trend is a little different; terraced properties have still recorded the biggest average house price increase across the UK but the next biggest increase was seen by semi-detached houses. Flats and maisonettes recorded more modest growth.
The average price of a detached property in the UK is now £326,396, compared to £110,240 at the end of 1996.
Terraced properties still have the lowest average house price of all property types. The average terraced property is currently £186,316, behind flats and maisonettes at £194,444. However, the gap between the average price of terraced properties and other property types has narrowed over the last ten years because of their stronger than average house price growth.
Price movements in the last ten years
Prices for terraced and semi detached houses as well as flats and maisonettes have more than tripled in the last ten years. Terraced properties have increased by 239% since the end of 1996. Flats and maisonettes have increased by 235% and semi-detached houses by 211%.
Over the last ten years, at a regional level, the biggest house price increases in the UK have been seen in terraced houses in Northern Ireland followed by flats and maisonettes in East Anglia. In the last ten years the average price of a terraced house in Northern Ireland has increased by 372%, flats and maisonette in East Anglia have increased by 328%.
More modest growth was recorded for semi-detached properties in Scotland. The average house price increase for a semi-detached property in Scotland was 129%, followed by detached properties and bungalows at 147%. However, the average price of a detached property in Scotland currently stands at £246,372 well above the UK all property types average of £218,760.
Current average house prices for different property types
Detached properties still command the highest premium followed by bungalows and then semi-detached properties. The average price of a detached property is currently £326,396, for a bungalow this figure is £215,839 and for a semi-detached house £197,992.
At a UK level terraced properties still have the lowest average house price of all property types. The average terraced property is currently £186,316, behind flats and maisonettes at £194,444.
The average terraced property in the North is more expensive than a flat and maisonette in the region. The average terraced property in the North currently stands at £125,058 compared to £106,640 for flats and maisonettes.
5 year % change
10 year % change
Flat & Mais.
Back to: News Index