The average price of a semi-detached house in Britain has reached £240,000, with values soaring above £1million in several cities including Bristol and Winchester, new research has revealed.
The exclusive report by estate agents Savills found that average values of such properties have climbed 20.9 per cent during the past five years, up from £199,000.
However, there are parts of the country where the average price of a semi-detached home is more than £1million.
The average price of a semi-detached home has reached £1million in some parts of the country The average price of a semi-detached in Bristol’s Clifton is now more than £1million
These includes Clifton in Bristol, where average semi-detached prices reached £1,170,000 last year.
Richard Brooks of the Clifton branch of Savills, said: ‘Clifton is the premier spot in Bristol to live. It’s all about the lifestyle and the diversity of the location really puts it on the map. You’re on the edge of green and open space with the Downs a stone’s throw away, yet close enough to all the coffee shops, bars, and restaurants that city life has to offer.
‘Homes here tend to be of quality architecture, with semi-detached properties being predominantly large Victorian four-storey townhouses. The rooms have good proportions, and because of the size buyers often find they have the space to accommodate a relative or au pair, or even bring in a separate income stream through a basement flat.’
It is followed by the area of St Michael in Winchester, Hampshire, where average prices were £1,070,000 in 2016.
The list of 20 places with the highest average sale prices for semi-detached properties includes Esher in Surrey, Wolvercote in Oxfordshire and Westbourne in East Sussex.
Jill Strang, of the Winchester branch of Savills, said: ‘The St Michael ward is located in the heart of Winchester, meaning a level and relatively short walk into the historic cathedral streets, main shopping areas and water meadows of the city.
‘Semi-detached homes here are often large, period properties that are highly sought-after among family buyers and commuters, owing to their proximity to both the M3 and regular train services to London Waterloo, and excellent schools in the area.’
Our map – above – reveals the average prices of semi-detached properties across the country.
There are areas in Winchester where the average price of a semi-detached is £1million The average price of a semi-detached property is also high in Esher, in Surrey
THE AVERAGE PRICE OF DIFFERENT TYPES OF HOMES IN ENGLAND AND WALES
England and Wales Average sale price Average sale price 5 year change in average sale price 2011 2016 Detached £333k £382k 14.9% Semi-detached £199k £240k 20.9% Terrace £190k £232k 22.1% Flat £224k £282k 26.1% SOURCE: SAVILLS
It is perhaps of no surprise that the top 17 local authorities where the average price of a semi-detached property is the highest are all in London.
The Savills report highlighted that the proportion of transactions that these sales make up tend to be relatively low in the capital.
Top of the list for London is Kensington and Chelsea, where the average price of a semi-detached property is £6,480,000.
It is followed by the local authorities of Westminster at £3,680,000, Camden at £3,270,000 and then Hammersmith and Fulham at £1.81million.
Frances Clacy, a Savills research analyst, said: ‘Semi-detached homes are generally cheaper than the average house price. This applies across all regions except London, making a semi a good choice for young families looking for their first home or those upsizing from a flat.
‘There are obviously local exceptions, where the average value of a semi is far higher than the average house price. These tend to be hotspots within cities, where there are concentrations of large semi-detached period homes, most located in the South East.’
TOP 20 WARDS OUTSIDE OF LONDON
Ward name Local authority Region Average semi-detached sale price, 2016 Semi-detached as a proportion of all sales, 2016 Clifton Bristol, City of South West £1.17m 6.0% St. Michael Winchester South East £1.07m 11.9% Esher Elmbridge South East £962k 14.2% Cotham Bristol, City of South West £943k 8.6% Thames Ditton Elmbridge South East £937k 32.5% Summertown Oxford South East £934k 20.8% Castle Without Windsor and Maidenhead South East £926k 8.3% Clarence St Albans East £925k 16.9% Weston Green Elmbridge South East £906k 32.6% Molesey East Elmbridge South East £883k 20.3% Hinchley Wood Elmbridge South East £856k 17.2% Wolvercote Oxford South East £856k 31.8% Westbourne Brighton and Hove South East £855k 9.2% Goldsmid Brighton and Hove South East £826k 4.9% Bowdon Trafford North West £824k 15.2% Harpenden West St Albans East £806k 21.3% Aldenham East Hertsmere East £801k 16.9% Aldenham West Hertsmere East £798k 33.3% St. Peters St Albans East £784k 9.3% Loughton Forest Epping Forest East £768k 20.5% SOURCE: SAVILLS
TOP 17 LONDON LOCAL AUTHORITIES
Local authority Region Average semi-detached sale price, 2016 Semi-detached as a proportion of all sales, 2016 Kensington and Chelsea London £6.48m 1.4% Westminster London £3.68m 0.5% Camden London £3.27m 2.8% Hammersmith and Fulham London £1.81m 1.9% Islington London £1.64m 0.9% Wandsworth London £1.63m 2.9% Haringey London £1.22m 4.8% Hackney London £1.19m 1.4% Southwark London £1.19m 2.8% Richmond upon Thames London £1.07m 17.6% Lambeth London £991k 4.9% Merton London £936k 10% Barnet London £782k 20.6% Ealing London £752k 15.5% Tower Hamlets London £732k 0.2% Brent London £711k 14% Lewisham London £678k 6.6% SOURCE: SAVILLS