Brits love terrace houses

The average price of a terraced house has risen more than any other type of house, with buyers priced out of the top end of the market, according to research made by the Halifax bank.

It claims that terraces have risen 68.4% in value to £151,332 in the past 10 years. Bungalows saw the next biggest increase in value, rising by 67.9% to £187,167. They were followed by semi-detached properties, that boast a 62.4% increase to £164,970.

Halifax housing economist Suren Thiru commented: 'Although all property types have recorded significant price increases overall during the past decade, terrace homes have seen the biggest growth.

'Demand for such properties is likely to have been supported by their relatively favourable levels of affordability over the period.

'The rapid house price rises during much of the 2000s priced many potential home movers out of the upper end of the UK housing market.'

The price of detached homes saw an increase of 56%, but as there are so many flats and maisonettes on the market these properties did not increase as much, with only a 49% rise, to £163,825.

Terrace houses are considered the most affordable type of property, which accounts for their popularity.

United Kingdom - Excite Network Copyright ©1995 - 2020