Property News

Friday, March 09, 2007

Terraced houses see largest price rise

New research from Halifax has today shown that terraced homes have seen the largest increase in property prices over the past decade.

The average terraced house price has surged by 239% in the past ten years. Flats and maisonettes rank second, with a 235% increase, followed by semi-detached homes at 211%. That compares to overall house price growth of 205%. Detached homes and bungalows experienced below-average price increases of 196%.

Terraced properties command an average price of £186,316, up from just £54,945 ten years ago. In County Durham, for example a two-bed redbrick terrace could have been picked up for for around only £9,000 eight years ago, now, the same property today would be on the market at nearly £90,000.

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