'Strong growth' reported for terraced houses

09-Mar-2007

In news which may be of interest to first time buyers, over the last five and ten years house prices for terraced properties across the UK have grown by the greatest amount, new research suggests.

According to research by Halifax Estate Agents, prices for terraced properties have grown by 113 per cent over five years and 239 per cent over ten years; the average property of any type is now also above the one per cent stamp duty threshold, which may worry would-be first time buyers concerned about rising house prices.

To find out about the different ways of financing a first home, see our section ‘Affording Your First Home’.

"Terraced properties have seen the largest average house price increases in both the last five and ten years," said Tim Crawford, group economist at Halifax Estate Agents.

"Although the average price of a terraced house is still below the UK all property average, the gap has narrowed" he added.

Of all the property types, detached properties remain the most expensive, with the average detached home now costing £326,396.

Halifax Estate Agents offers a number of services, including valuations and homeowner reviews.

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