Landlord Basics

Property Prices Rise £91 Per Day On Detaches

Since the second quarter of 2009 top mortgage lender Halifax has witnessed property price increases of over £91 per day on many of their detached properties.

Rising 13% from £266,060 to £299,295, detached properties have risen substantially more in value than all other property types who saw only average increases of 8-9% since 2009.

Yet it would seem that during the last 10 years semi-detached property investments have witnessed the biggest increases to their value:

• Semi-detaches – 111% increase
• Terraces – 110% increase
• Bungalows – 109% increase
• Flats – 81% increase

However when you examine the condition of the property market these figures are not that surprising…

With the UK base rate at a historical low of 0.5% and demand for property investments growing, every one of these property types has seen a rapid growth in their property sales.

Yet, this rise in property prices has not produced such positive results for everyone, with many property owners still struggling to move up the property ladder. During their study experts revealed that:

• The average property price of a detached home is now 63% higher than the average UK property price, compared to terraced properties that on average are 17% below
• The gap between the value of detached properties to terraces has decreased during the last decade from 106% to 98%
• Progressing up the property ladder is now much more difficult than it was 3 years ago where the gap between the least and most expensive properties has grown from 71% to 98%

Related posts:

1. Property Prices Rise By 0.2%
2. Asking Prices Rise Year On Year By 5%
3. Property Prices Annually Rise 4.1% In January
4. Property Prices Rise By £10,000!
5. UK property prices rise 0.3% in August according to official govt figures

Tags: property investments, property ladder, property market, property owners, property prices, property type

This entry was posted on Thursday, September 2nd, 2010 at 8:53 am and is filed under News, property prices. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.