Buy to let investors owning houses or flat for the past 10 years have worked out as the biggest property house price winners.
Flats come in first since 2009, mainly due to peaking prices in London.
The prices of buy to let flats have gone up an average £394 a month over the past 10 years, according to a study by mortgage lender Halifax.
Average prices have risen by 35% or £47,000 ‘ from £133,483 10 years ago to £180,799 now.
The price rises have been tracked by those for buy to let terraced homes, which increased 32% in the same period.
Martin Ellis, housing economist at Halifax, said: “While prices have risen for all property types, there have been a number of distinct periods of performance in the last ten years. Bungalows and detached homes fared best during the downturn as these property types are less popular with first-time buyers who were particularly affected by the mortgage famine at the height of the financial crisis.
“Since 2009, larger property has underperformed flats and terraces. The demand for such properties has been partly constrained by a widespread lack of equity amongst homeowners who bought for the first time around the peak in the market and who are therefore finding it difficult to finance a move to a larger home.”
 UK house prices by property type, 2003-2013
Property Type | Q2 -2003 (£) | Q2 -2007 (£) | Q2 – 2009 (£) | Q2 – 2013 (£) | 2003- 2007% change | 2007- 2009% change | 2009- 2013% change | 10 year % Change (2003 – 2013) |
Terraced | 121,533 | 209,917 | 140,690 | 160,133 | 73% | -33% | 14% | 32% |
Bungalows | 154,970 | 229,520 | 180,271 | 192,237 | 48% | -21% | 7% | 24% |
Semi-Detached | 138,770 | 216,872 | 159,251 | 171,862 | 56% | -27% | 8% | 24% |
Detached | 244,734 | 359,497 | 266,060 | 286,175 | 47% | -26% | 8% | 17% |
Flat | 133,483 | 215,439 | 146,024 | 180,799 | 61% | -32% | 24% | 35% |
All Properties | 154,503 | 241,838 | 169,533 | 189,145 | 57% | -30% | 12% | 22% |
Source: Halifax
Average House Price by property type and region, % change 2003-2013
Region | Terraced | Semi-Detached | Detached | Bungalows | Flats |
North | 45% | 32% | 25% | 12% | 29% |
North West | 36% | 28% | 12% | 8% | 12% |
Yorkshire & the Humber | 41% | 28% | 25% | 31% | 1% |
West Midlands | 23% | 22% | 13% | 33% | 11% |
East Midlands | 27% | 21% | 12% | 6% | -15% |
East Anglia | 25% | 19% | 13% | 15% | 32% |
Greater London | 27% | 23% | 13% | 21% | 37% |
South East | 19% | 22% | 15% | 17% | 19% |
South West | 22% | 19% | 18% | 19% | 14% |
Wales | 55% | 33% | 22% | 31% | 27% |
Scotland | 47% | 50% | 35% | 49% | 57% |
UK | 32% | 24% | 17% | 24% | 35% |
Source: Halifax
Average House Price by property type and region, 2013
Terraced | Semi-Detached | Detached | Bungalows | Flats | |
North | 107,077 | 129,555 | 220,278 | 135,861 | 100,691 |
North West | 104,285 | 143,097 | 240,610 | 154,597 | 113,404 |
Yorkshire & the Humber | 111,203 | 131,331 | 237,742 | 165,659 | 100,693 |
West Midlands | 120,962 | 145,666 | 255,388 | 210,177 | 108,275 |
East Midlands | 113,376 | 129,853 | 222,259 | 149,790 | 86,655 |
East Anglia | 143,787 | 164,003 | 254,334 | 164,852 | 125,531 |
Greater London | 335,957 | 378,048 | 581,546 | 346,539 | 286,993 |
South East | 195,882 | 243,208 | 411,295 | 262,695 | 154,953 |
South West | 164,298 | 186,084 | 321,848 | 228,788 | 141,359 |
Wales | 114,911 | 129,770 | 214,987 | 158,234 | 111,769 |
Scotland | 115,252 | 137,486 | 235,883 | 176,519 | 121,089 |
UK | 160,133 | 171,862 | 286,175 | 192,237 | 180,799 |
Source: Halifax
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