Terraced houses gain most value

According research out this week, the average price of a terraced property has increased by 68% in the last 10 years. 

Terraced properties have increased significantly more in value than other property types and the average asking price now stands at approximately £150,000 – equivilent to an average rise of £118 each week over the last decade.

By comparison detached homes increased in value by 56%, semis by 62% and flats and maisonettes by 49%.

The largest rises were seen in Scotland, Yorkshire and Humber whilst London experienced smaller property value increases.

avatar
Posted by: Nicola Severn Categories: Buying, House Prices, Industry News, Latest News, Property Market, Property News Tags: , , 2 Comments

2 Responses to Terraced houses gain most value

  1. avatar Neil Ellis says:

    The rises in Scotland are due to the increase in investors buying property there over the past 12-18mths due to an ease in borrowing and good yields.

  2. avatar Arthur Clarke says:

    Hang on! ‘Asking prices’ may be well wide of ACTUAL selling prices!! A discussion on ‘Wake Up To Money’ a few months back disclosed a gap of some £10’s of k’s in some places, as a glance at the Land Registry website also shows!! Also the above report doesn’t mention (sssshhh) the sometimes dramatic dip due to the recession?? Such a glowing report on the increase value rather smacks of the rhetoric which drove us all over the cliff in the first place!!! Still, two points: (a) Perhaps the better performance in the value of terraced properties is more a reflection of the fact that these were more modestly priced in the first place and hence more affordable as prices spiralled? and/or (b) actually, given the supposed DROP in recent years this suggests how ridiculously high the values spiralled over some 6-7 years!! According to a City analyst interviewed a few months ago, the UK recession ‘will not be over until house prices have returned to the level they should have reached if ‘normal’ annual increases had taken place’. Looking at it that way, 68% over 10 years, averages out (if my sums are correct) to about 4.9% compound inflation per year. The old bank savings rates weren’t bad till the crash, so make sure you compare apples with apples.