The average price of a detached property has risen by more than 5% since March, according to Halifax.

That’s twice the rate of growth of flats, which have increased by just 2.5% over the same period.

The significant increase in detached house prices since lockdown marks the greatest rise of all property types, with gains of around 4% recorded for terraced and semi-detached properties.

Regional split

All regions have seen increases in the average price of a typical detached property, but the North West and Yorkshire & Humberside have seen the strongest house price inflation, at over 6%.

They are followed by the East Midlands and the South West, said Halifax.

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In cash terms, the average price of detached houses in all four of these regions since March has increased by over £20,000.

It’s a different picture in the south of England. The South East and Greater London have both seen property price inflation for detached homes at around 2%, with growth restricted in part by the stamp duty holiday threshold of £500,000.

Russell Galley, managing director of Halifax, said: “We’ve seen a fundamental shift in demand from buyers as a result of increased home working and a desire for more space. There’s now evidence that it’s this push for larger properties that has been driving the mini-boom witnessed in the housing market since lockdown restrictions were first eased over the summer.

“This level of price inflation hasn’t deterred would-be buyers though, as in the three months up to September, we received more mortgage applications from both first-time buyers and homemovers than at any time since 2008. However, we continue to sound a note of caution on the longer-term prospects for house price inflation, with the full economic impact of the pandemic likely to be felt more keenly over the winter.”