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Property on terraces sees the largest price rise over the decade

September 27th, 2011
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Compared to the detached homes the terraced properties over the decade have seen a rise in its sale by 34% from 31% while the detached home has seen a decline in its share from 21% to 14% a research report indicated.

TheHalifaxsaid that the average increase of terraced properties has increased to 68.4% by £151,332 in the preceding 10 years into the second quarter of 2011.

The report revealed that the demand for the terrace property over the detached homes has been rising as terrace was cheaper than the detached homes the fact that even during rising property prices the terraced properties were 45% cheaper than the detached homes the average terraced property costs around £177,740 where as an average home costs £273,173.

Demand for such properties has been favourable due to its affordability quotient an expert atHalifaxopined. The price rise in homes through the 2000’s has seen most of the home movers being priced out of the upper end of the UK Housing market

Other sections in housing which has seen rise in value are the bungalows and the semi detached properties.

Londonhas seen little gains, compared toScotland, Yorkshire andHumberwhich accounted for larger share, of price rise in all sorts of property over the decade.

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