House prices soar for traditional semi-detached (outside of London)

The average price of a semi-detached property in England and Wales has reached £240,000. However, there are many areas outside of London where the price exceeds £1 million.

As property growth is reported to be slowing down in London, although it is still buoyant, elsewhere in the UK the property market has seemingly heated up and is gathering much pace.

The report by estate agents Savills found that average values of semi-detached properties have climbed by a fifth, 20.9 per cent, during the past five years, up from £199,000.

The report by the property experts reveals the cities of particular interest include Bristol and Winchester where traditional semi’s on the market have recently been valued at more than £1 million.

The average semi in the sought after Clifton area in Bristol 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.’