Thinking of buying a house or selling yours? Five West Midlands neighbourhoods where property prices have decreased most in the last year
A new report ranks all neighbourhoods in the West Midlands based on their property price reduction/growth over a yearly period.
A new report ranks all neighbourhoods in the West Midlands based on their property price reduction/growth over a yearly period.
Online Marketing Surgery and BLG Development Finance have created their House Price Change Report
Here are the top five in the Express & Star circulation area that have seen the biggest decreases.
1 Central Birmingham: Property prices decreased from £235,000 for the year ending September 2023 to £169,500 in September 2024, a percentage of 27.9
2 Walsall West: Property prices decreased 22.9% from a median of £197,500 in September 2023 to £152,000 in September 2024.
3 Oldbury and Rood End: Prices fell 20,4% in this area from £220,000 to £175,100 between the two dates.
4 Birchfield West in Birmingham: Median prices fell from £230,000 to £183, 500, 20.2%.
5 Attwood Green and Park Central in Birmingham: Prices between September 2023 and 2024 fell 19.6% from £230,000 to £185,000.
If you are looking to buy or sell, the five areas that have seen the biggest increase in property prices in the same period are as follows.
1 Walsall North East, which includes Bloxwich saw the median house price rise a whopping 56.3% from £175,000 to £273,500 between September 2023 and September 2023.
2 Smethwick East saw a 26.7% increase in house prices between the two dates, with prices rising from an average of £150,000 to £190,000
3 Properties in Park Lane, Wolverhampton increased in value from £131,000 to £165,000, an increase of 26%.
4 Metchley in Birmingham saw an increase in the median house price of 23.9%, from £226,00 to £280,000.
5 Fifth in the table was another Birmingham suburb, Stechford which saw property prices increase from £193,000 to £237,000 or 23.1%.
Coseley Walbrook in Dudley, Walsall Wood and Smethwick South East also featured in the top ten increases with the latter coming in at 19.1% from £175,00 to £208,000
Methodology: Property data from the Office for National Statistics, which looked at the median house prices for the West Midlands MSOA areas in September 2023 and September 2024.
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