Nationwide offers flats lowdown

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Nationwide offers flats lowdown

Tue 20th May 2008

In a special report, Nationwide has found that one in seven homes purchased in the UK are flats, which comprise 16 per cent of the country's total housing stock.

Its research showed that the average flat size is around 750 sq ft, half the size of a typical detached house, although flat-dwellers in Scotland enjoy the largest amount of living space of anywhere in the UK.

Age was also found to affect flat size - those built post-World War Two are not only the most popular, but also have the smallest square footage on average.

New-build flats on the other hand, which account for around ten per cent of all sales, are typically around nine per cent bigger with two bathrooms and bedrooms.

The building society states that flats are the cheapest of all property types, costing nearly 25 per cent less than the UK average price for all properties at £136,677, although flats in London are on average more than twice the price of those in the north-west.

Last week, Nationwide identified terraced houses as the preferred choice of property for first-time buyers.

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