Property News > House price growth strongest in terraced homes

House price growth strongest in terraced homes

Price growth across England and Wales has been stronger in terraced housing than in any
other property type, according to research from Proportunity.

Indeed, since 2010, average growth in terraced housing has been 3.05%, compared to the
2.90% growth seen in semi-detached houses, the 2.35% seen in flats, and the 2.33% seen
in detached houses – based on price change per square metre on all properties.

During that period, Greater London was home to the highest performing property types in all but one category. The price of flats, terraced and semi-detached houses in the capital all
outperformed other regions, with growth of 4.93%, 5.07%, and 4.33% respectively.

Vadim Toader, founder and chief executive of Proportunity, said: “The 2010s were marked
by the after-effects of the financial crisis, and then by Brexit uncertainty.

“Despite these headwinds, we have largely seen growth across the board but the clear
winner is terraced housing, or more specifically, terraced homes in London, with buyers
likely attracted to their historic characteristics and charm, as well as their limited supply,
compared to new builds.

“Yet, despite their popularity, they are out of reach for many first time buyers in the capital, with Help to Buy restricted to new-builds only, which are typically flats or semi-detached or detached houses.”

Meanwhile, flats in the North East saw an average reduction in value of 0.5%, the worst
regional performance of any property type seen across England and Wales. This was
followed by Yorkshire and The Humber and the North West, where the average value of a
flat fell annually by 0.12% and 0.04% respectively.

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