Price of Flats Lagging Houses
The prices of flats in most parts of England and Wales are not keeping up with those of houses, according to figures from the Land Registry.The figures show that outside London, flats enjoyed a bigger surge in prices over the past decade than houses, but are now underperforming.
In the first quarter of 2007, flat prices in nine out of 10 regions fell below those of houses. And flats in those areas are often falling in price in real terms.
One explanation might be that the supply of flats has grown enormously over the last decade. In England, only about one in six dwellings is a flat - but of new-built properties, it's not far short of one in two.
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