Dixons News

  • The latest news and articles 
  • Local stories 
  • Guides and information on the current property market
Contact
  • Surveying
    Surveying

    Professional chartered surveyors. Uncover any potential structural faults before you buy...more

  • Mortgages
    Mortgages

    Rates are at an all-time low! Exclusive mortgages available through Countrywide Mortgage Services...more

  • Home Insurance
    Home Insurance

    Buildings, Contents and Mortgage Care insurance through Countrywide Mortgage Services...more

  • Auctions
    Auctions

    Snap up a bargain by purchasing property at auction...more

  • Conveyancing
    Conveyancing

    Seamless legal service helping you move as quickly as possible...more

  • FirstBuy
    FirstBuy

    Buy your own home with just 5% deposit...more

House prices up £12,000 in West Midlands

The Office for National Statistics has reported that house prices in the West Midlands were £12,000 higher in December 2016 than at the start of the year.

With a rise of 7.2% across the UK, Birmingham saw an above average rise of 7.7%, with average house prices reaching £165,249 at the end of 2016, the equivalent of £32 a day. However, out of all the regions in the West Midlands, it was Walsall and Solihull that had the biggest percentage rise of 8.2% in Walsall, a rise in value of £54 a day, totalling £19,781 for the year for Solihull.

Other areas across the west midlands that saw prices rise were:

Wolverhampton = 7.4%

Dudley = 5.1%

Sandwell = 4.3%

Surprisingly the biggest rise in UK house prices for 2016 were in the Shetland islands at 26.1%, with prices reaching an average of £179,000 by the end of 2016. The lowest price growth for the year was in the city of Aberdeen, where house prices fell by 9.8%.

In Birmingham, one particular street has seen house prices grow by 39% over the last year. Temple street in the city centre, home to trendy bars and restaurants, has seen its apartment style properties go up in value from £119,000 to £164,950. Streets in Hampton- in-Arden and Solihull have also seen property prices increase to an average of £362,000, with the most expensive postcode again falling in Solihull at £420,000. 

Annual rents across the region also increased, rising by 12% for the West Midlands, something that is set to continue to rise throughout 2017.

 

 

 

 

Our website uses cookies so that we can provide a better service. Continue to use the site as normal if you’re happy with this, or find out how to manage cookies.
x