We know what people move into
But how often do they move into them? Find out how often people move in the UK in our blog
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Whether or not you’re looking to sell, it’s always interesting to know where your property sits on the wish list of buyers in the UK. Whether you live in a flat, a detached house, a terrace or a semi, how commonplace are the layout of bricks and mortar that make up your home?
Here are the most common types of property in the UK.
There are currently 8.6 million flats in the UK, making up 15.9% of the total housing stock. The current average price of a flat in the UK is £298k, making it the 2nd most expensive property type.
Since the 2008 credit crunch, these high-rise living quarters have also been enjoying high rising growth, having increased by an average value of £100k. In the last 12 months, flat prices are up by 4.1%.
Flat blocks are often right in the middle of city centres, making them hugely desirable with young professionals, particularly in big cities such as London. This, coupled with increased security and amenities those living in houses could only dream of, with gyms and saunas often available for the use of the buildings’ residents, it’s no wonder flats have enjoyed a huge growth in the last decade.
The UK is currently home to 13.5 million detached homes, making up almost a quarter – 24.7% − of the total housing stock.
Idealised as the perfect family home, detached homes tend to increase in value ahead of other property types, and offer privacy, seclusion and no shared walls with noisy neighbours. The independence that comes with living in a detached house will cost you a cool average of £397k, making it the most expensive type of property in the UK.D Despite the price, the unwavering appeal of this family favourite is enduring, and detached homes are likely to remain highly sought after as 2nd and 3rd homes regardless of price.
Our runner up, and the UK’s second most common property is the terraced house. Currently, terraced homes just edge out detached houses, with 14.2 million around the UK. Terraces make up 25.9% of all housing stock, and cost an average of £247k.
While some people are put off terraces as a home, due to negativity about the level of noise from neighbours and the lack of privacy, it’s worth remembering that it’s not the house that’s noisy – it’s the neighbours!
Whether it’s a cosy and intimate Victorian terrace in Bristol or a glamorous terrace in the heart of Kensington, the terraced house is among the most versatile and flexible of housing types. It is, by nature, an urban housing style, and is therefore often – but not exclusively − located close to city centres and the vibrancy that the city has to offer.
Our winner is… the semi-detached house! The most affordable UK property on average, costing around £228k, there are 18.5 million semis in the UK, making up 33% of the UK’s total housing stock. Hardly surprising then, that 23% of UK families live in semi-detached homes.
It might seem like a trade off, but the benefits of living in a semi-detached home are often worth the price of sharing a wall. Semis often offer extra space, at a lesser cost.
See what flats, terraces, semis and detached homes we have available in your area here