Share:
New data released from Ascend Properties has shown that detached properties have seen the highest rate of annual price growth of all property types in the UK.
Property Wire reports that Ascend Properties analysed sold price records between the first lockdown in March 2020 and February 2021, and compared them to the figures from the same period before the pandemic and the lockdown, to see what impact the increased demand for larger homes has had on the prices paid by buyers.
According to the research, across England, the average price paid for a detached house increased from £349,995 to £37,000 since March 2020, which equates to a 7.1 per cent increase. In comparison, sold prices for all other property types increased by 5.7 per cent, from an average of £210,000 to £222,000.
Detached properties in the North West performed best, with a 7.1 per cent increase in value since lockdown, the highest increase across the whole of the UK, while other property types only increased by 4.1 per cent, and the 3.1 per cent gap is the widest of any UK region.
The South West ranks second, with detached homes up 6.8 per cent since lockdown, 2.3 per cent more than the rest of the market.
Yorkshire and the Humber has also seen one of the biggest increases in detached property prices when compared to the rest of the market, with an increase of 5.4 per cent coming in 2 per cent higher than the uplift enjoyed across the rest of the market.
However, London ranked fourth, and while detached house prices are up 6.1 per cent, which is a higher rate of growth than Yorkshire and the Humber, but it is just 1.8 per cent ahead of the property price growth seen across other property types in the capital.
If you’re looking for estate agents in your area, get in touch today.
