Detached property price rises outstrip rest of market, says agency

An agency has analysed sold prices since the first lockdown in March 2020 and February this year - and has found detached houses have outstripped the rest of the market. 

Across England the average price paid for a detached house has increased from £349,995 to £375,000 since the start of the first lockdown, a 7.1 per cent increase. 

At the same time, sold prices for all other property types have increased by 5.7 per cent from £210,000 to £222,000 - that’s 1.4 per cent lower than detached homes. 

The research - using HM Land Registry data - has been by Manchester-based agency Ascend Properties which claims it is the North West where this trend is most obvious.

Prior to lockdown, detached houses sold for an average of £280,000 across the North West, while other property types averaged £147,000 - a gap of 90 per cent. However, since lockdown detached homes in the North West have sold for an average of £299,995 compared to £153,000 for all other property types, meaning this price gap has now stretched to 96 per cent.

The South West ranks second, with detached homes up 6.8 per cent since lockdown, 2.3 per cent more than the rest of the market. Yorkshire and the Humber has also seen one of the biggest uplifts in detached property prices when compared to the rest of the market, with an increase of 5.4 per cent.

“There may well be an exodus of homebuyers leaving the capital in search of larger homes, but the figures show that the North West is actually leading the way where this trend is concerned” claims Ascend managing director Ged McPartlin.