{"id":2799,"date":"2017-05-23T13:00:58","date_gmt":"2017-05-23T12:00:58","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2799"},"modified":"2023-09-29T11:00:20","modified_gmt":"2023-09-29T10:00:20","slug":"flat-prices-seen-biggest-increase-last-7-years","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/23\/flat-prices-seen-biggest-increase-last-7-years\/","title":{"rendered":"Flat prices have seen the biggest increase over the last 7 years"},"content":{"rendered":"<p><strong>Since 2009, flat prices across the UK have increased by 53%, a lot more than the 39% rise recorded for all property types, according to a new research.<\/strong><\/p>\n<p>The data was collected by Halifax and shows that flat prices <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/08\/uks-affordable-areas-buy-home\/\" target=\"\" rel=\"noopener\">have increased the most<\/a> in the capital and detached house prices have seen the smallest increase over the last seven years, only going up 19%.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"id20iWhwgl\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/22\/renting-still-cheaper-buying-least-cities\/\">Renting is still cheaper than buying, at least in these cities<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Renting is still cheaper than buying, at least in these cities&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/22\/renting-still-cheaper-buying-least-cities\/embed\/#?secret=3qND9Bu11r#?secret=id20iWhwgl\" data-secret=\"id20iWhwgl\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Terraced home were another solid group and have seen the second biggest price increase over the same period of time with 43%. Overall the research also showed that semi-detached and terraced homes were the most popular choice as they represented 60% of all home sales in 2016.<\/p>\n<p><strong>In the past seven years, the average flat price increase by \u00a384,644, or \u00a31,008 every month, from \u00a3159,292 in Q4 2009 to \u00a3243,936 in Q4 2016.<\/strong><\/p>\n<p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/16\/londons-house-price-dilemma-fall-continues\/\" target=\"\" rel=\"noopener\">London\u2019s property market<\/a> is seen as the main driver of this development as flat prices in the capital have increased by 65% since 2009. When it comes down to sales, flats represented an impressive 48% of all sales in London whilst they only made up 11% of the national sales.<\/p>\n<p>Terraced homes are currently the most affordable property type in the UK with an average price of \u00a3215,690, followed by semi-detached averaging at \u00a3225,070 and flats at \u00a3243,936. When taking London out of the data, <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/07\/invest-build-rent-property-tenant-included\/\" target=\"\" rel=\"noopener\">flats become the cheapest property<\/a> to buy with an average price of \u00a3167,144, followed by terraced homes at \u00a3185,116.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"4qqc4zaX4g\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/11\/no-stock-sight-number-homes-market-continues-drop-says-rics\/\">No stock in sight! Number of homes on market continues to drop, says RICS<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;No stock in sight! Number of homes on market continues to drop, says RICS&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/11\/no-stock-sight-number-homes-market-continues-drop-says-rics\/embed\/#?secret=63I2EVpO5l#?secret=4qqc4zaX4g\" data-secret=\"4qqc4zaX4g\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Martin Ellis, Halifax housing economist, said:<\/p>\n<p>\u201cNationally, terraced and semi-detached homes are the most affordable and popular homes with <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/03\/08\/business-usual-uk-landlords\/\" target=\"\" rel=\"noopener\">buyers<\/a> accounting for 60% of sales during 2016. However average <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/01\/15\/lets-look-leaseholds-landmark-legal-challenge-spell-big-change\/\">price growth for flats<\/a>, helped by the London market, have outperformed all other property types since 2009.\u201d<\/p>\n<blockquote><p>\u201cThere has been an increasing trend for first time buyers to choose semi-detached homes over the past seven years, whilst terraced homes have shown a decline in popularity. The rise in the age of a typical first time buyer may partly account for this change in preference towards the family friendly semi.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Since 2009, flat prices across the UK have increased by 53%, a lot more than the 39% rise recorded for all property types, according to a new research. The data was collected by Halifax and shows that flat prices have increased the most in the capital and detached house prices have seen the smallest increase<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/05\/23\/flat-prices-seen-biggest-increase-last-7-years\/\" title=\"ReadFlat prices have seen the biggest increase over the last 7 years\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4338,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[299,57,35,300,301],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2799"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2799"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2799\/revisions"}],"predecessor-version":[{"id":6096731,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2799\/revisions\/6096731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4338"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}