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Last Updated: Friday, 9 March 2007, 10:43 GMT
Terrace houses lead property boom
Terrace houses
Terrace houses have led the way in the property boom
Terrace houses have been the fastest rising property type in the UK over the past 10 years, the Halifax has said.

The typical terrace house has risen by 239% in the past 10 years, compared with 205% for all properties.

The average terraced house now costs 186,316 as against 54,945 a decade ago, Halifax Estate Agents added.

Flats and maisonettes have also shown above-average rises, but detached homes and bungalows have risen below trend.

Our research shows there are big regional differences across certain property types
Tim Crawford, Halifax Estate Agents

Despite the strong showing of terrace houses as a grouping over the past decade, they still, on average, sell for less money than the average for the entire UK's housing stock.

But the cost of a terraced house is 85% of the all-property average prices, compared with 77% 10 years ago.

Regional differences

The Halifax noted big regional differences across certain types of property.

For example, over the past 10 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.

The average price of a terraced house in Northern Ireland has increased by 372%. Flats and maisonettes in East Anglia have risen in price by 328%.

At the other end of the scale, the average house price increase for a semi-detached property in Scotland was 129%, followed by detached properties and bungalows at 147%.

"Our research shows there are big regional differences across certain property types. In many cases, this is a result of the availability of property types and the composition of historic housing stock," said Tim Crawford, group economist at Halifax Estate Agents.

"For instance, the availability and popularity of flats in London is much greater than in other regions of the UK."




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