Over the past ten years, the price of terraced houses has grown more rapidly than any other kind of property, according to a recent survey.
The Halifax has concluded that since 2001, the value of terraced properties has risen by £118 per week on average. Since that time, the typical price of a terraced house has increased by 68.4% to £151,332. By comparison, the average UK home has seen an increase of 52.8%, while bungalows have risen by 67.9%. Flats have recorded the smallest price growth at 49%.
However, in spite of their unmistakeable rise in value, terraced properties have remained the most affordable. Significant price increases across the upper end of the housing market have attracted many potential homebuyers to the relative affordability of terraced homes.
On average, terraced prices are 45% lower than detached homes and 15% lower than the UK average, increasing their appeal to first-time buyers in particular, in addition to their obvious value as a proven long-term investment.
Terraced house prices up £118 a week in ten years - myfinances.co.uk
House Prices surge by 68% - Express.co.uk
Terraced houses see biggest price rise in a decade - Mortgage Finance Gazette