You are here: Home - News -

Gold in the flat lands

by:
  • 16/12/2002
  • 0
Flats are the 'goldmines' of the UK property market, with prices rising by an average of almost 15...

Flats are the ‘goldmines’ of the UK property market, with prices rising by an average of almost 150% in the last decade, according to figures from Halifax.

The average price of a flat has risen from £50,355 in the third quarter of 1992 to £125,587 in the third quarter of 2002, an increase of 149%. This compares with an average increase of 112% for all properties. Over the same period terraced properties have risen by 120%, semi-detached by 106% and detached properties by 102%.

The increase in one-person households over the past 10 years, from six million to seven million, is part of the reason for the greater demand for smaller properties, along with a fall in the number of households with children.

Martin Ellis, chief economist at Halifax, said: ‘The increase in the price of flats reflects the increase in the number of single person households. It emphasises the need for planners to encourage an increase in the right type of properties to cater for the changing requirements of the home-buying population of the UK.’


Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Joining the pack

With the Government again committed to introducing Sellers' Packs, Paul Robertson discusses how they could work with Peter Duckworth, sales...

Close