The cost of a terraced home sped ahead of overall house price inflation over the last decade, new research from Halifax Estate Agents has found.
Although terraced homes remained cheaper than detached and semi-detached houses and flats, homebuyers pursuing their dream of living in a terraced property faced price rises of 239 per cent between 1997 and 2007.
Over the last decade, homebuyers in search of a simple flat or maisonette – the second most popular property types, judging by inflation statistics – confronted price rises of 235 per cent.
But since 2001, the semi-detached house has overtaken flats and maisonettes as Britons' second most desired property type, taking inflation on semis to 95 per cent.
This shift may correlate to trends for homebuyers to be older and looking for a more spacious family home as their first property.
Overall price growth trends mean prices for terraced, semi-detached and flats have tripled over the last decade, Halifax found, while a terraced home in Northern Ireland would be most expensive in 2007 compared to its 1997 price.To learn more about UK property, click here.
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