21
May
Flats 'most affordable' property type
Flats comprise 14 per cent of all homes purchased in the UK and 16
per cent of the country's total housing stock, according to a new
report from Nationwide.
The building society found that apartments are the cheapest of all
property types, costing an average of £136,677 - 25 per cent
less than the UK average.
However, its research also showed regional variations, with flats
in London twice the price of those in the north-west.
Nationwide states that the average flat size is around 750 sq ft,
although again this varies according to area, with
apartment-dwellers in Scotland enjoying the largest amount of
living space.
Age was also found to affect flat size, with those built post-World
War Two being the most popular on the market, but also the smallest
on average.
In an earlier report, Nationwide identified terraced houses as the
preferred property choice among first-time buyers.
