A TERRACE of housing typically describes a row of identical or mirror-image linked homes — but new
A TERRACE of housing typically describes a row of identical or mirror-image linked homes — but new analysis from Savills suggests that not all are quite equal in terms of value, with an end-of-terrace house generating 11 per cent more than the average.
The firm compared the average price of all terraced house sales recorded by the Land Registry in 2015 to the average paid for a number 1, end-of-terrace house in the same region (see table, right).
It found that the highest end-of-terrace premium is paid in the West Midlands and the North West, where buyers paid an average 18 per cent more for an end-of-terrace house.
Unsurprisingly, London has the highest valued terraced homes, averaging £603,563 last year. This compares to an average of £691,218 paid for an end-of-terrace in the capital.
In the South East, the average value of an end-of-terrace is £302,346 compared with an average value of £264,668 for a terrace — a premium of 14.2 per cent.
Only in Wales, where the average terraced house sold for just £120,088, is there no clear premium for an end-of-terrace. Indeed, last year there was a marginal -0.7 per cent discount.
Katie Baldwin, an associate director at the Henley branch of Savills in Bell Street, said: “An end-of-terrace often has the potential to extend sideways, giving the opportunity to add value.
“It may have greater light from side windows and be slightly wider than other properties on the road. In addition, there is likely to be a lower risk of disturbance from neighbours.
“All these factors have a part to play in the premium purchasers are willing to pay to secure one.”