The difference between houses and flats in England and Wales
Across the UK there are roughly 47 million houses compared to just 9 million flats. This is no surprise as houses are much more popular for people further along on the property ladder.
However, something that is much more surprising is that the average price of a house in the UK is £293,000, however the average apartment price is £299,200.
The apartment figure is affected by cities where prices tend to be higher and there also tends to be a higher density of flats, meaning the average flat price increases. In London it is not uncommon to see people spending over one million pound on centrally located apartments instead of buying a cheaper house which is located outside of the city centre.
In England and Wales 15.7% of people live in a flat compared to 84.3% that live in houses, and when it comes to transactions houses are the most popular type, outselling flats by 328.6%. However, it’s interesting to see how this changes for different regions.
Looking at our regions, South West London has more people living in flats than houses with 57.6% of people calling a flat home. North West London has the similar levels of people living in flats at 42.5% and outside of the capital, Bristol has the highest level of people occupying flats at 29.8%.
If you are looking to upsize from a flat to a house or maybe even downsize from a house to a flat then make sure you are in contact with your local Andrews branch to see how we can support you on this move.