west midlands property guide
Post on 17-Jul-2015
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House prices in the West Midlands suffered badly during the housing market crash of 2008, but they have been steadily recovering ever since. The county of Warwickshire is the regions property hotspot, with an average house price of more than 220,000. Stratford upon Avon is one of the areas most exclusive property markets, where the average price of a house is more than 280,000. Warwick also boasts high-er-than-average house prices, but both towns have suffered from falling house values during the last two years. However, it seems that these falls have been to the advantage of homeowners in Rugby, which saw a 7% increase in property values between 2012 and 2013.
The major urban areas of the region have generally been experiencing house price rises since 2010 a result of a general move from rural com-munities to local towns and cities. Solihull has a vibrant and affluent hous-ing sector, and it boasted an average house price of more than 240,000 in June 2013.
Average rise of property prices of 7.3%
Average property price - 198,000[ONS - 2014]
Bromsgrove is also a relatively affluent area, and selling a semi-detached house in the town can earn you an average of around 150,000.
Even the UKs second city Birmingham has seen average house prices rise by more than 3% during the last two years, and the economic recovery bodes well for the future of the citys property market. Dudley, Coven-try and Wolverhampton have all recorded significant increases in demand for housing. But no town or city in the region has outperformed Walsall, where house prices rose between 2012 and 2013 by more than 11%.
If you are buying a house on a tight budget, Sandwell could be a particularly affordable option, as the aver-age house price there is less than 120,000.
Sandwell good for buyers on a budget