Nationwide Building Society Looks At Flats Market

Published: 5/21/2010

The Nationwide Building Society has been looking at the state of the property market with specific regard to flats, which make up around 16 percent of the total UK housing stock.

It found that the average size of a flat is 750 square feet, which is around half the size of the average detached house. They are also much cheaper than a detached house, with the UK average price for a flat standing at approximately GBP136,600. This is, says the Nationwide Building Society, around 25 percent less than the average for all properties combined and so makes it a little easier for first time buyers to get a mortgage for.

Although new build properties are often seen as being smaller than their older counterparts this is not the case with flats. Those built during the 40’s and 50’s tend to be the smallest according to the Nationwide Building Society figures, with new build flats being nearly 10 percent bigger.

,p>Get a great first time buyers Nationwide Building Society mortgage quote and get on the property ladder with a flat.