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September 2, 2010    

Detached homes put on £91 a day

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by Gill Montia

The average price of a detached family home has risen by more than any other property type over the past year.

According to new research from Halifax, owners of detached properties saw the value of their homes increase by £91 a day over the year to the end of June, with a 13% leap taking the average value of a stand alone property to £299,295.

By comparison, prices for all other property types rose by a mere 8% to 9% over the period.

However, going back over the past decade, semi-detached homeowners have been the biggest winners with the cost of the typical semi surging ahead 111% since 2000.

For terraced homeowners growth stood at 110% and for bungalow dwellers, 109%.

Flats were the only property type not to double in value, with an 81% average increase over the last ten years.

Halifax housing economist, Suren Thiru, comments: “The changing pattern of homes bought over the past decade highlights some significant socio-economic forces.”

She adds: “For example, the rise in the proportion of sales of flats and terraced homes reflects the increasing trend for people to live alone.”

While married households remain the most common form of UK household, single person households are projected to take the lead by 2020, according to a Communities and Local Government forecast.

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