Research from Zoopla indicates that UK house prices have surged by 24% since the pandemic, while flats increased by only 7%. This shift is attributed to buyers seeking more space post-lockdown and concerns about apartments, particularly regarding service charges and building safety. Consequently, the average house price now far exceeds that of flats, marking the largest gap in over 30 years. While there are signs of potential recovery for flats, many owners face selling at little or no profit.
House prices have climbed three times faster than flat values since the start of the pandemic, according to research from Zoopla.
The UK house prices have risen by 24 per cent over the past five years, compared with just 7 per cent growth for flats.
Flats have become even cheaper compared to houses over the last five years, affecting buyer preferences.
Richard Donnell noted that there is scope for shrewd investors to capitalise on more affordable flats.
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