Terraced houses increased in value by more than any other type of home over the past decade after buyers were priced out of the top end of the market, according to new research by the Halifax.
The average price of a terraced property has increased 68.4% to £151,332 in the ten years to the second quarter of 2011, said the Halifax. Despite recent price hikes, a terraced home is still 45% cheaper than an average detached home.
Terraced properties saw their share of all house sales rise by more than any other property over the decade, increasing to 34% from 31%. Bungalows saw the next biggest rise in value - by 67.9% to £187,167 - followed by semi-detached properties, with a 62.4% increase to £164,970. The value of detached homes increased 56%, but flats and maisonettes were the worst performer, with a 49% increase to £163,825 after the market was flooded with a glut of properties.
Scotland and Yorkshire and Humber accounted for the biggest price rises across all property types over the decade, while London saw the smallest gains.