Cost of detached homes surge compared to flats
The cost of detached properties increased by £50,000 over the past year, five times the rate of increase for flats, the Halifax house price index has found.
The cost of detached properties increased by £50,000 over the past year, five times the rate of increase for flats, the Halifax house price index has found.
It costs 11% more to buy UK property compared to a year ago, the highest level of growth since mid 2007.
House prices increased by 10.8% in the year to February 2022, representing the steepest increase since 2007, Halifax’s House Price Index has revealed.
Detached house prices have surged at twice the rate of flats in the past year thanks to changing buyer behaviours.
Property prices rose by 9.8% over the course of 2021 – amounting to £24,500 on average, Halifax’s house price index has found.
Property prices increased by 9.8% over the course of 2021 according to Halifax, amounting to a price increase of £24,500.
Average property prices are almost £34,000 higher than at the onset of the pandemic, at £272,992 compared to £239,176 in March 2020.
Investors in the region have profited from substantial capital growth in the past year, as prices in Wales are now up to an average of £195,000.
UK house price growth has risen to 6.5% in March annually – amounting to an increase of £15,430, Halifax’s House Price Index has revealed.…