Terraced housing costs 'on the up'

Posted: 27 Sep 2011 12:22:00 GMT

The value of terraced housing has increased 68 per cent in the last ten years.

The cost of terraced housing in the UK is on the increase, with the value of such property swelling by 68 per cent in the last ten years.

New research from Halifax has revealed these buildings have seen the highest average price rises in this time when compared with all other types of accommodation.

According to the data, terraced homes have jumped in value by an average of £118 a year, with the typical cost of such a dwelling climbing from £89,843 in the second quarter of 2001 to £151,332 in quarter two of 2011.

Suren Thiru, housing economist at Halifax - which is a division of Bank of Scotland - said: "Although all property types have recorded significant price increases overall during the past decade, terraced homes have seen the biggest growth."

The industry figure added the favourable levels of affordability related to this property type is likely to have supported demand overt the past decade.
 

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