Price growth for flats remains sluggish despite the pandemic trends favouring houses slipping away over time.

The Halifax says it has continued to see differences in price trends between property types.

Detached properties have performed most strongly since the onset of the pandemic, whilst flats have been the weakest.

Halifax chief economist Robert Gardner says: “Between Q1 2020 and Q4 2022, the average price of a detached property increased by 26.0 per cent (nearly £78,000 in cash terms). 

“Meanwhile, over the same period, flats only increased by 13.4 per cent (around £23,000). 

“Annual house price growth slowed markedly across all property types in the final quarter of 2022 but detached were the strongest performing over the year as a whole, with average prices up 5.9 per cent. 

“Meanwhile, the average price of flats increased by just 2.1 per cent.”