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Terraced homes big gains.

TERRACED houses increased in value by more than any other type of home over the past decade after buyers were priced out of the top end of the market.

The average price of a terraced property has increased 68.4% to pounds 151,332 in the 10 years to the second quarter of 2011, said the Halifax.

This equates to a rise of pounds 118 a week and outstrips a 52.8% rise in the cost of the average home to pounds 177,740.

Demand for terraces has been strong because they are the most affordable type of property, while more expensive detached homes have seen their share of sales drop, the report revealed.

Despite recent price hikes, a terraced home is 45% cheaper than an average detached home, which costs pounds 273,173.

Terraced properties saw their share of all house sales rise by more than any other property over the decade, increasing to 34% from 31%.
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Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Sep 27, 2011
Words:158
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