If you’re thinking of buying a property in Birmingham city centre but not sure how much it will cost, then you’ve come to the right place. How much will buying a property in the heart of Birmingham set you back by?
Through our property selling services offered in the area and across the West Midlands, Love Your Postcode has earned a strong reputation on the local market, becoming one of city’s leading estate agents.
What’s the average house price in Birmingham city centre?
Last year most property sales in Birmingham city centre involved flats which sold for on average £190,051. Terraced properties sold for an average price of £216,758, while semi-detached properties fetched £157,250.
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Birmingham City Centre, with an overall average price of £190,555, was similar in terms of sold prices to surrounding Birmingham areas (£188,407) but was more expensive than Small Heath (£124,090) and cheaper than Edgbaston (£301,851).
During the last year, sold prices in Birmingham City Centre were 4% up on the previous year and 8% up on 2006 when the average house price was £176,419, says Rightmove.
The average price for property in Birmingham City Centre stood at £211,794 in June 2018. This is a rise of 1.16% in the last three months (since March 2018) and rise of 3.01% since 12 months ago. In terms of property types, flats in Birmingham City Centre sold for an average of £203,225 and terraced houses for £212,368. This is according to the current Zoopla estimates.
According to the Office of National Statistics, the ONS, the East Midlands reported the fastest rise in the price of renting or buying a home in the past year. House prices in places like Nottingham, Leicester and Derby, increased by 7.5% by the end of July. We also saw rental price rise by 2.8% by the end of August, which are the fastest in Britain.
As of March 2018, the average house price in the UK is £224,144, and the index stands at 117.56. Property prices have fallen by 0.2% compared to the previous month and risen by 4.2% compared to the previous year.
With so many people already living in Birmingham city centre, and so many other people looking to move to the area, it is understandable that many people across the U.K. have an interest in the Birmingham property market and how it has changed over the last 12 months.
Best areas to buy a flat in Birmingham City Centre
You can check out the best investment areas in Birmingham over the last 12 months by reading this article.
Love Your Postcode Estate Agents in Birmingham gives your home maximum exposure online & offline, getting it more views from potential applicants, therefore more offers, and ultimately the highest possible finishing value. This means you end up with more money in your pocket and you enjoy a higher quality service. Call us on 0800 862 0870 or book a free valuation today.
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