Flats prove to be good investment
BRITAIN’S flats have increased in value by an average of £394 per month over the past decade, the largest increase in cash terms of any property type, according to latest research from Halifax. The average price of a flat has risen by almost £47,500 from £133,483 a decade ago to £180,799 today.
The 35 per cent increase is closely followed by terraced houses at 32 per cent. Detached homes have recorded the smallest rise over the past decade at 17 per cent.
The apartment price boom is largely attributed to London, where they represent a relatively high proportion of the property market. Terraced homes were the best performing property type in Yorkshire. Bungalows also performed well.