July 2019 UK & West Midlands Property Market News
As summer continues, the slowdown in the UK housing market also continues with the average UK house price increasing by 0.7% in the year to July 2019. For an estate agent in Birmingham this isn’t all bad news, as the average across the UK does not necessarily represent the local area.
Average house prices peaked around August 2018, and July 2019 sees that peak being surpassed. The growth rate in England alone was just 0.3%, but this has been affected by prices dropping in the South East (-2.0%), London (-1.4%), the East (-0.5%), and the North East (-2.9%).
Areas such as Smethwick, Birmingham, and West Bromwich have benefitted from the growth in the West Midlands which was 1.8% in July. This growth is slower than June (2.6%) but is contrary to the trend in much of the country.
The average price of a property in the West Midlands is now over £199,000 and shows signs of continuing increase. As a respected estate agent and letting agent in West Bromwich, GS Property Estates can help property owners, landlords, and those looking to invest across Birmingham and the surrounding areas. We have branches in Birmingham, Smethwick, Oldbury and West Bromwich, and have great experience in the local property market over many years.
We’re a local letting agent but we take notice of what’s happening nationally and tailor our selling and investment strategies to get the best results for our clients. GS Property Estates believes that an investment in the West Midlands is an investment in both property and the local community, and we look forward to seeing the entire area thrive.
Data source for all statistics: Office of National Statistics