2
Sep
Bungalow homeowners receive good news
Homeowners with a bungalow to sell have received good news after
they were told that the price of their properties rose more than
others.
Research conducted by the Bank of Scotland revealed that the value
of one-floor houses rose by eight per cent between the second
quarter of 2009 and the second quarter of 2010.
This demonstrates an increase in price from an average of
£166,018 to £178,701 during the one-year period.
The financial services provider also showed that detached
proprieties recorded the second highest value increase at seven per
cent.
Bank of Scotland housing economist Suren Thiru said: "It is notable
that the property types which have seen the largest average price
rises over the past year are likely to have benefited from greater
demand from those buyer groups currently most able to enter the
housing market."
The need for new-build properties, as well as bungalow houses, is
also set to increase after Home Builders Federation's Steve Turner
recently suggested that more residences need to be constructed in
order to meet the demand from homebuyers looking for a house for
sale in Britain.