The gap between the cost of a house and a flat has reached its widest point in at least three decades, according to property website Zoopla. The average house now costs 1.7 times the price of a flat, up from 1.3 times a decade ago.
Price Increases Since 2016
Zoopla reported that house prices have surged 43% since 2016, while flat values have risen only 10%. This disparity means the typical house costs £327,000, which is £134,000 more than the average flat at £193,000.
Impact on Second Steppers
The widening gap poses challenges for aspiring 'second steppers'—those who bought a flat as their first home and now seek a house for more space. Richard Donnell, executive director at Zoopla, noted that buyers who research and understand the system can take advantage of the price difference.
Regional Variations
Outside London, the gap is even starker: a house costs 2.3 times a flat, up from 1.8 in 2016. In Scotland, the ratio has barely changed, remaining at 1.9 times. The West Midlands has the highest ratio in England at 2.5 times.
First-Time Buyers Skipping Flats
In the Midlands and northern England, the relative affordability of houses means some first-time buyers bypass flats entirely, Zoopla said.
Expert Opinions
Jen Lloyd of Skipton Building Society said many buyers are thinking long-term, choosing homes for growing families instead of flats they might outgrow. Nathan Emerson of Propertymark highlighted that flats remain an affordable entry point, but buyers are increasingly considering leasehold costs and building safety.
Future Outlook
Emerson added that reforms to improve transparency and simplify ownership could strengthen confidence in the flats market and support housing mobility.
Average Prices and Ratios by Region
- London: flats £416,000, houses £809,000, ratio 1.9
- South East: flats £207,000, houses £480,000, ratio 2.3
- Eastern England: flats £186,000, houses £396,000, ratio 2.1
- South West: flats £174,000, houses £368,000, ratio 2.1
- West Midlands: flats £120,000, houses £296,000, ratio 2.5
- East Midlands: flats £113,000, houses £264,000, ratio 2.3
- North West: flats £120,000, houses £273,000, ratio 2.3
- Yorkshire and the Humber: flats £104,000, houses £250,000, ratio 2.4
- North East: flats £86,000, houses £202,000, ratio 2.3
- Wales: flats £116,000, houses £248,000, ratio 2.1
- Scotland: flats £118,000, houses £223,000, ratio 1.9
- Northern Ireland: flats £139,000, houses £223,000, ratio 1.6
