Average UK Flat Value Rises 60% In Past Decade

Flats have been the property success story of the past decade in terms of price growth, with average values leaping by 60% since 2005, compared with a typical 38% rise for all homes, according to new data from the Halifax. It found that a typical flat had £730 added to its value every month over this period, lifting the average price-tag from £145,800 in 2005 to £233,400 today. With price growth for flats outstripping that for all other property types, first-time buyers have been increasingly switching their attention to semi-detached homes as a result, said the bank. At the same time, buy-to-let investors have become enthusiastic flat buyers - which is presumably a key factor in the price rise. Read more on the Guardian website.