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West Midlands sees highest rise in property values

Michael Lloyd

July 26, 2019

Homes in the West Midlands have increased in value compared with other regions in the country, property website Zoopla has found.

In the West Midlands the average value of homes has risen by £6,695 since January.

Laura Howard, spokesperson for Zoopla, said: “The UK housing market gained £60bn in value during the first six months of the year.

“An increase in the total value of housing was recorded across nine of the 11 regions analysed, with average property values in the West Midlands making the most money for homeowners.

“Perhaps then, it is no coincidence that in the last six months residents in the West Midlands, more specifically those in Birmingham, have been the most regular visitors to Zoopla’s house prices tool, which gives a price estimate for the value of homes, down to a single address.”

The South East is close behind the West Midlands, where homeowners have seen their properties gain £6,463 on average.

The worst-performing region in Britain was London, where the average value of all housing has fallen by £13,035.

Howard continued: “The difference in London’s house price activity is perhaps reflected by the fact that three of its boroughs (Wandsworth, Bromley and Croydon) feature in our top 10 locations where residents most-used our house prices tool.

“Homeowners in those areas are eagerly looking to see whether their home is increasing or decreasing in value in a mixed performance market.”

Overall £2,046 has been added to the value of the average home in the first six months of 2019.

 


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