Do you remember back in primary school when you learnt the difference between flats, terraced home and semi-detached houses?
At the time it was simply a useful way of describing our homes. Little did we know we’d be drawing on that lesson when working out financial potential when house hunting.
Estate Agency Springbok Properties has revealed the most profitable style of property to invest in.
Related: First-time buyers are no-longer buying THIS type of home
Across the UK semi-detached houses were found to have the greatest price growth since 2008.
The average house price has grown 35.07 per cent, boosting the average price of a semi-detached houses from £163,201to £291,087.
We’re not surprised this style of home has proven so in-demand. As kids, our dream home was always semi-detached with our best friend living next door – always on hand for ice-cream dates in the kitchen.
In England and Wales specifically, semi-detached homes proved to be the best investment.
However, in Scotland and Northern Ireland detached homes were crowned the most profitable properties with value rising by 21.13 per cent.
Yet across the UK, it was terraced houses that saw the second-biggest boost in asking prices. These have increased by 33.93 per cent. Flats were close behind, with prices increasing by 35.78 per cent from £150,878 to £200,341.
And while detached homes proved popular in Scotland and Northern Ireland, across the UK they came in last place. Prices were increased by 32.61 per cent with average asking prices rising from £262,199 to £347,706.
‘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,’ says Shepherd Ncube, Founder and CEO of Springbok properties.
‘This is largely due to a number of factors. They bridge the gap between first-time buyers and second or third rung buyers. They provide the additional space needed for the next stages of life, without the price premium that a detached property will often command,’ he explains.
All good news if you’re a seller with a semi-detached house, or if you’re a first-time buyer looking to invest.
Related: Phil Spencer’s Triangle approach to finding a house is absolute genius
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