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Detached homes 'increase in value by £91 a day'
01/09/10
Edited by Andy Jowett.The value of detached family homes grew at a faster pace than the price of any other type of residential property over the 12 months to the end of June, according to new research.
Figures from mortgage lender Halifax shows that between the second quarter of 2009 and the corresponding period of this year, the average cost of these houses rose by 13 per cent from £266,060 to £299,295.
This is the equivalent of their prices climbing by £91 a day, the bank said.
Over the same period, the values of all other types of residential property rose by between eight and nine per cent, it added.
For the past decade, semi-detached home owners were the big winners, having seen the value of their dwellings climb by an average of 111 per cent.
Terraced homes were second with a 110 per cent increase in prices, while bungalows were third with a rise of 109 per cent.
Halifax noted that semi-detached and terraced properties have accounted for 61 per cent of all home sales so far this year, up from 58 per cent a decade earlier.
According to the lender's most recent House Price Index, the average cost of a home in the UK stood at £167,425 in July.
