A recent report released about the price of terraced housing revealed the unique featured homes have significantly increased in value over the past decade.  Since 2001, the everyday terrace has increased by almost 70% in value, making it the fastest rising type of property over the last ten years.  The pace of the rise in value is almost 120 pounds per week through the years.

The average cost for a terraced home ten years ago was almost 90,000 pounds.  In today’s money, the same property would be worth more than 151,000 pounds.  It is true that other styles of dwellings have increased in value since 2001.  But, no other form of residential property has maintained the same torrid pace like terraced homes.

The types of properties which are scraping the bottom of the barrel in regard to increase of value over the past decade are flats and maisonettes.  A flat valued at almost 110,000 pounds in 2001 would today cost more than 163,000 pounds, according to Halifax.

Despite the economic downturn and recent recession, the property values over the past ten years have maintained their posture and remained resilient.  Property values have reached record highs in many areas of the UK regardless of how challenging the financial crisis has become.

Halifax commented on the basis for the hike in property value for terraced homes.  They believe it is because a terraced home is the most affordable type of home within the UK.  The average price of a terraced home is less expensive than the average price of any other type of residential property.