Published: 22/07/2019Across England and Wales so far in 2019, renters paid 55% more per square foot to live in a flat over a terraced house, while buyers paid a 50% premium.
Price on a square foot basis has been widely used in the sales market for many years. Although not as well recognised in the lettings market, it is becoming an increasingly important measure for investors to be able to compare properties and search for new opportunities.
Using Land Registry data and Dataloft Rental Market Analytics, we are able to compare prices per square foot for both properties sold or rented. In this example, we have looked at the average price of flats compared to terraced houses on a price per square foot basis for properties sold or let in 2019 to date.
Our research reveals that in eight out of ten regions in England and Wales, the rental premium achieved for flats over terraced houses is higher than the sales premium. Highest differentials (which are likely to translate into higher yields) can be found in the East Midlands, East, London, South East, South West and West Midlands regions.
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