Detached and terraced homes 'see best value increases'

By Jonathan Dawes, Thu 2 Sep 2010 - Published in Mortgages

Scotland's detached properties and terraced homes have seen the largest increases in price over the last ten years, new figures have shown.

The Bank of Scotland Property Type Review revealed that the value of the average detached home in Scotland has risen by 128 per cent since 2000.

Meanwhile, terraced houses have seen their value jump by 120 per cent over the same period, while all other property classes have experienced at least a doubling in prices in the ten years.

Suren Thiru, Bank of Scotland housing economist, commented: "The changing pattern of homes bought over the past decade highlights some significant socio-economic forces.

"The rise in the proportion of sales of flats and terraced homes reflects the increasing trend for people to live alone."

Additionally, the research showed that bungalows were the property type to see the greatest value rise in the past 12 months, increasing by eight per cent from Ł166,018 to Ł178,701.

Recently, Waterside Properties managing director Peter Halliday claimed that the UK's coastal property market did not see dramatic price falls during the recession.

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