Mortgages are likely to be a top priority for individuals in the UK looking to move into terraced housing, especially as new research has shown these types of dwelling are escalating in price.
Carried out by Halifax, the study revealed the average cost of such a property has increased by more than any other kind of accommodation over the last decade.
According to the investigation, the value of terraced abodes has risen by around £118 a week in the past ten years – meaning the typical cost for such a building has swelled by 68 per cent.
This reveals the average price for this category of property has jumped from £89,843 in quarter two of 2001 to £151,332 in the second three-month period of 2011.
Suren Thiru, housing economist at Halifax – which is a division of Bank of Scotland – said: “Although all property types have recorded significant price increases overall during the past decade, terraced homes have seen the biggest growth.”
