May 2019 UK & West Midlands Property Market News
The slowdown in house price growth across the UK continued in May 2019, affecting many local estate agents, as growth slipped to 1.2% on average. This is skewed slightly by the situation in London and the North East – the average house price in the North East has dropped 0.7% over the last year, while prices in London have dropped 4.4%.
Even with this drop, London remains the most expensive area with average property prices at £457,000 compared to £197,000 in the West Midlands.
However, for an estate agent in West Bromwich such as GS Property Estates, there is good news. The West Midlands has experienced the second highest growth in prices in the UK, second only to the North West, with an increase of 2.7%.
This exceeds the growth in the UK as a whole, and in all individual areas of the UK with the exclusion of Wales which experienced growth of 3.0% in the year to May 2019, down from 5.3% in April.
GS Property Estates is an estate agent and letting agent in Birmingham with branches in Smethwick, West Bromwich, and Oldbury. This gives us a great opportunity to gain an overview of the property market across the area which allows us to advise our clients on the best investment opportunities, along with providing a great service to all our clients.
The West Midlands remains a strong area for property investment, and if you need a local estate agent near me in Birmingham, we’d be happy to work with you.
Data source for all statistics: Office of National Statistics