PRICES of flats are rising more than any other property type, according to Halifax.

The building society’s figures show that the average price of a flat has increased by 53 per cent in the last seven years. This compares to the overall rise of 39 per cent recorded for all property types. In London the average price for a flat is £230,894 more than in the rest of the UK. The next largest increase in average prices has been for terraced homes, with a rise of 43 per cent. Terraced and semi-detached homes are the most popular types of property – making up 60 per cent of all home sales in 2016.