Cost gap between flat and house prices widest its been in 30 years, Zoopla data shows
Financial inequality between houses and flats in the UK has reached its highest point in at least three decades; the price of the average house is now 1.7 times the price of a typical apartment.
This significant gap, highlighted by Zoopla, poses a growing challenge for aspiring homeowners.
Average house prices have increased by 43 percent since 2016, while apartments have seen a more modest increase of 10 percent.
This divergent growth has pushed the house-apartment price multiple from 1.3 times a decade ago to 1.7 times now.
The widening gap is making it increasingly difficult for ‘second steppers’ (flat owners looking for a bigger home) to get on the property ladder for more space.
Buyers can generally expect to pay £327,000 for a house; this is £134,000 more than the average price of a flat of £193,000.
Zoopla said outside London the average gap was even wider; The price of a house has generally increased from 1.8 times in 2016 to 2.3 times now.
But in Scotland the rate has remained virtually unchanged over the past decade. The average home here sells for 1.9 times the price of an apartment; This is similar to the 1.8 times seen in 2016.
Looking at England, the flat price gap is widest in the Midlands and northern regions, where the relative affordability of a home means some first-time buyers are skipping flats altogether, Zoopla said.
The cost of a house in the West Midlands is typically 2.5 times more expensive, the highest rate of any region in England, the report said.
Zoopla used the house price index to make the calculations and its records go back 30 years.
Zoopla Executive Director Richard Donnell said: “Buyers who take the time to research the system, understand it and get support can benefit from the difference between flat and house prices.
“A well-managed building with a long lease term and stable service charges is a very different proposition to a property with a short lease and less clarity on service charges.”
According to Zoopla, the average flat prices in 2026 are as follows, followed by the average house prices and then the house-apartment price ratio:
London
Flat: £416,000
House: £809,000
Rate: 1.9
South East
Flat: £207,000
House: £480,000
Ratio: 2.3
East of England
Flat: £186,000
House: £396,000
Rate: 2.1
South West
Flat: £174,000
House: £368,000
Rate: 2.1
West Midlands
Flat: £120,000
House: £296,000
Rate: 2.5
East Midlands
Flat: £113,000
House: £264,000
Ratio: 2.3
North West
Flat: £120,000
House: £273,000
Ratio: 2.3
Yorkshire and the Humber
Flat: £104,000
House: £250,000
Ratio: 2.4
North East
Flat: £86,000
House: £202,000
Ratio: 2.3
Wales
Flat: £116,000,
House: £248,000
Rate: 2.1
Scotland
Flat: £118,000
House: £223,000
Rate: 1.9
Northern Ireland
Flat: £139,000
House: £223,000
Rate: 1.6
