UK Terraced Houses Lead 2024 Property Price Growth

Terraced houses are outperforming other property types in the UK, according to a recent Rightmove report. While average asking prices across Britain rose by 1.4% in 2024, terraced homes saw a significant 2.2% jump. This contrasts sharply with flats, which experienced only a 0.5% increase.

This strong performance isn’t just about price growth. Terraced houses often offer better value compared to detached or semi-detached properties of similar size due to smaller plots and shared walls. Their enclosed structure also contributes to greater energy efficiency. Beyond financial and practical benefits, terraced houses are often situated in convenient locations near schools, shops, and transportation, fostering a strong sense of community, according to Russell White of Winkworth’s Putney office.

A Diverse Range of Terraced Properties Across the UK

Here are some compelling examples of terraced houses currently available on the market:

Affordable New Build: Hull

A new two-bedroom terraced house in Hull offers an affordable entry point through shared ownership. The property, featuring a kitchen/diner, separate living room, cloakroom, and turfed garden, is available through Places for People. This scheme allows buyers to purchase a share of the property and pay rent on the remaining portion, with the option to increase their ownership over time.

Investment Opportunity: King’s Lynn, Norfolk

A historic Grade II-listed townhouse in King’s Lynn presents a unique investment opportunity. Currently registered as a commercial property, it comes with full planning permission for residential conversion. Proposed plans include a ground floor kitchen, utility room, living room, a first-floor drawing room, and at least four bedrooms. Contact Sowerbys for more information.

Coastal Charm: Port Isaac, Cornwall

Sea Holly Cottage, dating back to the 1850s, offers a charming coastal retreat in Port Isaac. Located near the harbor and coastal path, this period property features exposed wooden beams, flagstone flooring, two double bedrooms, and a sea-facing garden and terrace. The property is available through John Bray Estates.

Character-Filled Cottage: Dartmouth, Devon

Tillers Cottage in Dartmouth is a beautifully presented property with covered parking and a well-established garden. The ground floor features an open-plan kitchen, sitting, and dining area with a log burner. Two double bedrooms and a shower room are located on the upper floor. Local shops, restaurants, and galleries are within walking distance. The property is listed with Marchand Petit.

City Living with a View: Edinburgh

This traditional villa in Blackhall, Edinburgh, offers stunning views of Edinburgh Castle. Featuring three bedrooms, two bathrooms, a bay-windowed living room, and an extended open-plan kitchen/dining/family room, the property also boasts a low-maintenance garden with artificial grass. It is conveniently located a short bus ride from the city center and available through Neilsons via ESPC.

Premium Properties: Durham, Cambridge, London, Richmond, Hampstead

The article also showcases high-end terraced properties in Durham, Cambridge, Highbury (London), Richmond, and Hampstead, ranging in price from £1.2 million to £3.75 million. These properties offer a blend of historical charm, modern amenities, and prime locations. Details can be found through Finest Properties, Cheffins, Winkworth, Antony Roberts, and Middleton Advisors respectively.

Conclusion: Terraced Housing – A Strong Investment in the UK Property Market

The data underscores the strength of the terraced housing market in the UK. Offering a combination of affordability, desirable locations, and energy efficiency, terraced houses present an attractive option for both first-time buyers and seasoned investors. The diverse range of properties available across the country caters to a wide spectrum of budgets and lifestyle preferences.