Slower growth in detached house price growth

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by Kay Murchie

Research from Nationwide has revealed that detached house prices have increased at a slower rate than other property types.

Nationwide’s research shows that detached property prices have increased by 41% since 2004, compared to an increase of 50% for other properties. This suggested that average detached homes may provide better value-for-money, as it is twice as big as the average terraced house, say the Nationwide.

Detached houses currently make up about 22% of UK property sales. However, in the capital, the figure drops considerably.

The average price of a detached home is currently £246,516, according to the Nationwide.

Last week, the latest Halifax house price survey showed that the average home declined nearly £5,000 in value last month. This is a fall of 2.5% and represents the biggest monthly fall since September 1992, when prices fell by 3% in a month.