New Open Property Group research found that in the last 5 years, average UK detached, semi-detached and terraced house prices have all increased by at least 20%.
All UK property types increased by 63% or more, with detached house prices seeing the biggest jump – an increase of 71% in 2023 compared to 2012. The UK average detached house price now sits at £441,97, the average semi-detached house price is £269,098 and current terraced house prices average £226,211.
Analysing the 2022/23 Land Registry regional data showed that, outside of London:
- St Albans has the highest ranked average Detached House price at £1,164,863
- St Albans has the highest ranked average Semi-Detached House price at £707,629
- St Albans has the highest ranked average Terraced House price at £513,905
- Brighton has the highest ranked average Flats Property price at £327,537
Looking at the other end of the scale Stoke-on-Trent has the lowest ranked average detached house price at £221,909. This is closely followed by Sunderland and Carlisle, where a detached house would cost you, on average, £270,799 and £273,231 respectively.
Openpropertygroup.com Managing Director, Jason Harris-Cohen said:
“It comes as no surprise that detached and semi-detached properties have seen the healthiest price appreciation, partly fuelled by our ‘race for space’ over the last two years and a lack of available stock.
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The new build sector is playing its part in shaping house prices. Developers need to create as much space as possible to maximise the square footage of each home, as ‘per sq ft’ is how they value properties. The bigger the size, the higher the resale value and we have definitely seen an emphasis on building detached and semi-detached family homes of late.”
