Detached homes best preforming property type for last 15 years

Detached homes have been outperforming all other property types for the last 15 years, according to research from Warwick Estates.

Since 2006, the value of detached homes in England has increased by 63%, equivalent to a rise of £158,165.

This is more than semi-detached (60%), terraced (62%), and flats (57%).

With bigger rises still, the value of detached homes in Scotland has increased by 65%, or £112,410, followed by semi-detached (59%), terraced (58%), and flats (36%).

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While Scotland’s percentage rise is larger than England’s, due to the vast difference in property prices in each region, England’s pounds-and-pence growth is the greater of the two (£158,165).

In both Wales and Northern Ireland, the trend remains the same, with the value of detached homes rising by 39% and 18% respectively, more than all other property types.

Regionally, London has seen the most extraordinary price growth with a rise of 119% over 15 years, followed by the South East (81%), East (77%), South West (60%), and the East Midlands (55%).

The value of detached homes in the South West has risen by 60%, but so too has the value of semi-detached homes.

This makes the South West the only region in the UK where the rising value of detached homes has been matched by another property type.

The North East noted the smallest jump in the price of detached homes, up 19% over the timeframe.

Emma Power, chief operating officer of Warwick Estates, said: “Detached properties appear to be flavour of the month right now with buyers keen to find bigger homes in the wake of COVID-19 lockdowns.

“But this data shows us that the important role detached homes now have in driving our market forward is not a new phenomenon; they have long been the backbone of residential property.

“The vast gulf between growth in London and growth in the North East is, of course, concerning as it highlights, once again, something we’ve known for a long time about the very different fortunes of our northern and southern markets.

“But, we can feel quite optimistic that things will soon have more balance as, in recent months, the North East has shown some very strong growth while London’s market has sputtered.

“It won’t remain that way for long, of course, but as we move forward, I’m hopeful the gap will be somewhat narrower.”