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Detached house prices surge £60,000 in less than two years

  • 28/01/2022
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Detached house prices surge £60,000 in less than two years
The average price for a detached house has increased by nearly 17 per cent since March 2020 to £425,177 in December, reporting the strongest level of growth compared to flats, terraced and semi-detached properties.


According to research from Halifax, this is a £60,556 change in price. The report also showed that average house prices for semi-detached and terraced properties both grew by around 15 per cent to £280,090 and £213,798 respectively. These represented a price increase of £36,841 for a semi-detached home, and £27,715 for a terraced property.

Average flat prices went up by nearly nine per cent to £158,992, a £13,325 change.

By region, detached house prices typically reported the strongest growth, with increases raging from 13 per cent to 24 per cent.

Average detached house prices in Wales grew by 24 per cent, which was followed by North West at 22 per cent and South West at 20 per cent.

The report said that due to growing prices it would cost people more to upgrade property type.

Flat owners will have to spend £54,806 to upsize to a typical terraced house, which is up from £40,416 in March 2020.

Terraced property owners would need to spend an extra £66,292 to purchase a semi-detached home. This is over £9,000 more than in March 2020.

Russell Galley, managing director at Halifax, said: “Record numbers of moves have been taking place throughout the pandemic, with the demand for detached homes now greater than for any other property type, meaning the competition for those looking to buy an often larger property is fierce.”

He added: “As employers began to crystalise longer-term plans for home and hybrid working, buyers have been able to consider homes further afield as the need to commute falls away, with properties previously considered too remote now giving families extras like garden rooms and home offices.

“This trend means Wales, with its beautiful countryside and lower relative property prices, saw the strongest growth in detached homes over the past two years.”

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