Detached homes the most sought after property type

Detached houses were the most sought-after property types among home movers in the last 12 months.
Research from Halifax shows 32% of sales were for detached homes as buyers looked for more space. It is also a significant increase on 10 years ago, rising from 25% of sales.
Elsewhere terraced homes have seen the biggest decline, down 5% since 2013.
The average house price paid by those moving home is £428,647 – up 10% from last year and more than double the average price in 2013.
In the last year, detached homes accounted for 38% of sales in the West Midlands with 17% of sales going on terraced houses. In 2013 the figures were 29% and 23% respectively.
In 2013 the average house price for home movers in the West Midlands was 185,197. By 2023 this had increased 102% to £348,598 according to Halifax’s figures.
The number of home moves fell to a record low of 112,459 in the first half of 2023, down nearly 30% from last year. The previous low was in H1 2020 when the market shut down due to the pandemic – 114,020 home moves were completed then.
Sheldon Bosley Knight’s director of residential sales, James Morton, said: “Given many people are still embracing hybrid working as a result of the pandemic and are thus needing more space, it’s no surprise detached homes are more popular.
“Generally they offer buyers more space both inside and out and in locations which make it easier to negotiate a commute which is less frequent than before the pandemic.
“They also offer families their forever home, a flexible space to grow, earlier than perhaps they would have wanted or been able to do a few years ago.
“However, while detached properties are very popular here in the Midlands, we at Sheldon Bosley Knight see a wide range of property types and these include terraced houses and flats which are still in demand as first time buyers seek their first property.
“The market is still buoyant and if properly priced and marketed, property will sell. As ever if you are looking to buy or sell, please pop into one of our offices and ask for a free, no obligation market valuation.”