Semi-detached homes are streets ahead for property price growth since the financial crash

August 1, 2019

Research by national fast sale estate agency Springbok Properties has revealed which property type has been the best for investment in the United Kingdom since the end of the market crash and where has seen the strongest price growth.

Across the UK

Since September 2008, semi-detached homes have proven the most profitable properties to own in the UK, with price growth of 35.07% from the average house price of £162,201 following the financial crash to £291,087 today.

There has been a similar growth across other property types in the country over the same time-span; the average price of terraced homes has increased by 33.93% from £139,195 to £186,418, while flats have seen a growth of 32.78% from £150,878 to £200,341. Flats are closely followed by detached houses, the value of which has increased by 32.61% from £262,199 to £347,706.

By Nation

In England and Wales specifically, semi-detached homes are still the most profitable property type to invest in, with those in England showing greater growth than the UK average at 39.87%, while in Wales the increase in value is 24.18% since September 2008.

In Scotland and Northern Ireland, however, detached homes have shown greater growth than any other property type, with those in Scotland rising in value by 21.13%. In Northern Ireland, detached properties are the best of a bad bunch, with a decline of -15.90%.

By Region

Springbok also looked at growth across regions in the UK, revealing that semi-detached houses are the most profitable property type in almost all regions, with the exception of London where terraced homes are best for investment, up 75.90% since the end of the financial crash.

When looking at inner and outer London, terraced homes are the best investment across the peripherals of the capital, up 68.15%, while in Inner London, semi-detached houses have shown the largest degree of price growth of 82.33%.

The next best region for semi-detached house price growth was the East of England, with an increase in value of 59.82%.

The East is followed by yhe South East at 57.42%, the South West (40.93%), the East Midlands (36.37%), the West Midlands (33.07%) and the North West (24.10%). Yorkshire and the Humber followed with a price growth of 21.95%, while the North East lags behind at 4.98%.

By Area

When looking at the capital on a borough level, Haringey has been the best performing borough since the financial crisis when it comes to semi-detached homes, flats and terraces, while Hackney has been the best for detached properties.

Outside of London, Cambridge has been the best area for investing in all property types since the crash, and at the other end of the scale is County Durham, which has been the worst area of the UK for house price growth since 2008.

Founder and CEO of Springbok properties, Shepherd Ncube, commented:

“In the wake of such a devastating period as the market crash, many homeowners would have been understandably worried that their property would fail to regain any meaningful level of value.

However, the UK market has bounced back and there has been a steady level of growth over the last decade, with semi-detached homes standing out as the most profitable property type to invest in pretty much regardless of location.

This is largely due to a number of factors. They bridge the gap between first-time buyers and second or third rung buyers and can provide the additional space needed for the next stages of life without the price premium that a detached property will often command.

They also make the ideal property for a buy-to-let landlord who wants the balance between an affordable investment option but with the space to maximise rental income.

In many built-up areas, they are also often more prevalent than detached homes and so present the best option for many looking to move from a smaller terraced home or flat.

As a result of this demand, prices for this property type have performed that bit better across the UK.”

NATIONS
United Kingdom
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi-detached
£162,201
£219,087
35.07%
Terraced
£139,195
£186,418
33.93%
Flat
£150,878
£200,341
32.78%
Detached
£262,199
£347,706
32.61%
England
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi-detached
£166,055
£232,266
39.87%
Terraced
£143,757
£199,447
38.74%
Flats
£159,615
£221,261
38.62%
Detached
£271,619
£372,598
37.18%
Scotland
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Detached
£216,914
£262,746
21.13%
Sem
£133,376
£160,405
20.27%
Terraced
£109,106
£127,235
16.62%
Flats
£101,630
£109,849
8.09%
Wales
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi-detached
£124,697
£154,847
24.18%
Terraced
£102,786
£123,738
20.38%
Detached
£200,148
£239,603
19.71%
Flats
£103,060
£111,213
7.91%
Northern Ireland
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Detached
£237,370
£199,628
-15.90%
Sem
£157,733
£131,283
-16.77%
Terraced
£123,962
£94,096
-24.09%
Flats
£149,309
£110,040
-26.30%
REGIONS
London
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Terraced
£274,565
£482,970
75.90%
Semi
£326,819
£558,559
70.91%
Detached
£524,235
£847,998
61.76%
Flat
£250,460
£399,012
59.31%
Outer London
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Terraced
£251,739
£423,300
68.15%
Semi
£324,798
£543,437
67.32%
Detached
£523,408
£850,637
62.52%
Flat
£207,788
£310,309
49.34%
Inner London
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£497,236
£906,611
82.33%
Terraced
£377,183
£679,509
80.15%
Detached
£744,432
£1,340,834
80.12%
Flat
£315,108
£515,305
63.53%
East of England
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£186,654
£298,309
59.82%
Terraced
£155,876
£243,797
56.40%
Detached
£283,951
£436,681
53.79%
Flat
£134,128
£192,054
43.19%
South East
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£221,134
£348,116
57.42%
Terraced
£177,363
£272,264
53.51%
Detached
£364,644
£554,750
52.13%
Flat
£147,843
£201,323
36.17%
South West
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£186,770
£263,219
40.93%
Terraced
£156,701
£215,199
37.33%
Detached
£295,437
£396,555
34.23%
Flat
£133,706
£167,011
24.91%
East Midlands
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£128,708
£175,520
36.37%
Detached
£207,810
£275,820
32.73%
Terraced
£108,287
£143,182
32.22%
Flat
£94,050
£113,023
20.17%
West Midlands
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£143,926
£191,526
33.07%
Terraced
£119,694
£155,838
30.20%
Detached
£246,597
£317,373
28.70%
Flat
£107,317
£127,647
18.94%
North West
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£141,258
£175,299
24.10%
Detached
£234,670
£283,900
20.98%
Terraced
£107,204
£124,975
16.58%
Flat
£108,435
£119,701
10.39%
Yorkshire and the Humber
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£133,389
£162,669
21.95%
Detached
£219,576
£262,424
19.51%
Terraced
£109,999
£128,019
16.38%
Flat
£106,962
£114,364
6.92%
North East
Property type
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Semi
£125,158
£131,387
4.98%
Detached
£208,999
£213,068
1.95%
Terraced
£103,567
£102,996
-0.55%
Flat
£96,548
£88,520
-8.31%
Best in London
Rankings – Best for Flats in London
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Haringey
£258,098
£497,567
92.78%
Rankings – Best for Terraced in London
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Haringey
£308,657
£662,972
114.79%
Rankings – Best for Semi-detached in London
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Haringey
£476,058
£1,018,928
114.03%
Rankings – Best for Detached in London
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Hackney
£481,270
£1,008,060
109.46%
Best in the UK
Rankings – Best for Flats
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Cambridge
£173,648
£287,020
65.29%
Rankings – Best for Terraced
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Cambridge
£237,514
£434,373
82.88%
Rankings – Best for Semi-detached
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Cambridge
£274,395
£504,611
83.90%
Rankings – Best for Detached
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
Cambridge
£452,170
£848,173
87.58%
Worst in the UK
Rankings – Worst for Flats
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
County Durham
£88,534
£67,194
-24.10%
Rankings – Worst for Terraced
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
County Durham
£96,353
£82,114
-14.78%
Rankings – Worst for Semi-detached
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
County Durham
£113,999
£101,079
-11.33%
Rankings – Worst for Detached
Location
Average Price – September 2008
Average Price – May 2019
Change / growth (2008-2019)
County Durham
£188,877
£168,317
-10.89%

 

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