November 2019 UK & West Midlands Property Market News
Christmas came early in November as house prices increased by 2.2% over the year, up from an average of 1.3% in October. A peak of just over £235,000 was achieved for average house prices across the UK.
For estate agents in Birmingham, the news is even better. The West Midlands is the highest performing region in England with growth of 4% over the previous 12 months. Growth in London returns to a positive figure (0.2%). The East being the worst performing area with a decrease of 0.7%.
The rest of the UK continues to grow with Wales experiencing an increase of 7.8% (3.6% last month) and Scotland reaching 3.5% (from 1.7%).
The average house prices in England increased by 1.7% over the year to November 2019. Which is less than half of the growth experienced in areas around Smethwick, Birmingham, and West Bromwich. Overall average house prices remain highest in London at £475,458. Then West Midlands averaging £204,238. The North East currently has the lowest prices of all areas, averaging at £130,712.
The Birmingham Property Trend
The general trend around Birmingham is still upwards, suggesting growth again over the coming months. However, as an experienced estate agent and letting agent in West Bromwich, GS Property Estates can help you plan and improve your property portfolio at any time.
Property owners, landlords, and people who may be looking to invest in and around Birmingham can benefit from our local knowledge and years of experience. We understand the local area and how the national trends affect the local market which always gives us the ability to maximize your investment.
Data source for all statistics: Office of National Statistics