Semi-detached and terraced homes record strong house price growth – e.surv
Semi-detached house prices increased by 2.6% in the year to August, while terraced home prices rose by 2.3%.
Semi-detached and terraced homes recorded the strongest annual house price growth across Great Britain, according to e.surv’s House Price Index (HPI).
Average house prices rose by 1.8% in the year to August, but performance varied by property type and region.
Semi-detached house prices increased by 2.6%, while terraced home prices rose by 2.3%.
Detached properties recorded growth of 1.2%, while flat prices fell by 0.7%.
Flats were the weakest-performing property type in many regions.
Detached homes also lost ground in higher-value areas, particularly across southern England.
Detached house prices fell by 1% in the South East and 0.4% in the East of England.
Rob Owens, head of research at e.surv, said: “The strongest price growth is currently concentrated in the middle of the market, with semi detached and terraced homes outperforming both detached properties and flats nationally.
“This suggests buyers are becoming increasingly pragmatic, seeking enough space for their needs without stretching their budgets to a larger home.
“Affordability is not the only consideration, however. Buyers are also weighing up the certainty of ongoing costs, including service charges and ground rent.”
Owens added: “Local housing stock plays an important role too, which helps explain why flats are performing more strongly in established apartment markets such as London and Scotland.”
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