Pandemic space race: Flats are back but prices are slow to catch up with detached homes

With flat sales on an uplift, the city-slick property could be on the edge of picking up the pace in terms of price – particularly for those who are adamant about sticking in London.

The average price of a flat has climbed just one per cent since the start of the pandemic, while detached homes have jumped by 10 per cent, according to the latest data.

The data, from property website Rightmove, suggests that Brits’ property choices have been permanently changed by the pandemic.When Covid-19 brought three national lockdowns in motion in the UK, the number of estate agents facing inquiries of houses with larger gardens and more space soared.

However,Rightmove director of property data Tim Bannister explained that the market is rebasing at its pre-pandemic state.

“In the first few months of the housing markets reopening across Great Britain last year flats were temporarily out of favour as people sought bigger homes with more space further out, but we’re now seeing this trend start to shift back again,” he said.

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