Terraced homes fastest risers says Land Registry

Posted: 09 Nov 2006 10:18:05 GMT

Terraced homes have experienced the fastest price rises of any property class over the past year, figures from the Land Registry have shown

Terraced homes have experienced the fastest price rises of any property class over the past year, figures from the Land Registry have shown.

Terraced homes in England and Wales rose 10.9 per cent between the third quarter of 2005 and the same period of 2006, almost double the 5.96 per cent market average.

The average terraced home now costs £167,259, up from £151,826 in July to September 2005. Flats also rose rapidly, up 8.57 per cent to £189,868.

"Today's Land Registry figures show that house prices are rising at the fastest pace since early 2005, confirming the rude health of the property market," said David Stubbs of the Royal Institute of Chartered Surveyors (Rics).

"A strong economy and still accommodative financing conditions are helping support strong housing demand and above average activity in the market.

"Thursday's widely expected interest rate rise will help to cool the market somewhat, but conditions will remain firm into 2007."

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