Birmingham’s housing market value has reached £116bn - as compared to the total value of the UK housing market which reached £10.5 trillion at the end of 2022.
According to data by Zoopla, Birmingham saw an increase of £9.6bn year-on-year to December 2022. Solihull gained by £2.6bn while Sandwell had an increase of £2.5bn. The housing market in Solihull totals at £36.2bn and Sandwell stands at £27.4bn.
The other big gainer in the West Midlands - apart from Birmingham - in 2022 was Shropshire. Their housing market was at £47.9bn in December 2022.
Commenting on the analysis Richard Donnell, Executive Director at Zoopla says: “UK homeowners made record gains in the value of their homes over the pandemic years as the nation re-evaluated what we wanted from our homes.
“These gains have started to be eroded in the final half of 2022 as buyer demand weakened in the face of higher mortgage rates and weaker growth in household incomes.
“The profile of gains and losses varies right across the country, knocking any notion of a single market that moves in unison across the country.
“Housing markets vary by geography and price band. The value of a home is important in unlocking that next home moving decision. While the headlines might talk of UK house price falls in 2023 each home will have its own trajectory so speaking to an agent or tracking your home value online are ways households can stay in touch with the value of their largest asset.”
Here are some photos of properties available in Birmingham on Zoopla in different price brackets - from starter homes to luxury ones:
1. Birch Hollow, Birmingham
6-bed detached home for sale.
2. Birch Hollow, Birmingham
Priced at £1,700,000
3. Edgbaston, Birmingham
5-bed detached home for sale for £2,550,000
4. Edgbaston, Birmingham
The total plot is 0.5 acre (0.21 ha)