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March 12, 2007    

Terrace house prices grow fastest in UK

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by Elaine Frei

Terrace house prices grow fastest in UK

The price of a terrace house has gone up faster in the UK than any other type of housing, according to a new report from Halifax, part of the HBOS Group (LSE: HBOS). In the past decade, all types of properties have gone up in price by 205 percent. Terrace houses, in contrast, have seen average prices rise by 239 percent, from £54,945 to £186,316. Flats and marionettes have also gone up more than the overall average, while the price of a detached home or bungalow has gone up less than the average for all properties.

Which types of housing have gone up the most differs by region. The price of a terrace house in Northern Ireland has gone up the most, up 372 percent over the decade. East Anglia has seen the highest rise in flats and marionettes, at a 328 percent rise in ten years. The lowest gains have come for detached properties and bungalows, which have gone up by 147 percent. Semi-detached properties in Scotland saw the least price appreciation, at 129 percent.

The report notes, however, that even though terrace houses as a group has gone up in price the most, they still sell for less than the average for properties in the UK overall.

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