Birmingham house prices: most expensive, cheapest and popular areas revealed

The impact of the coronavirus pandemic - which prevented house sales during the first lockdown - coupled with stamp duty holidays has boosted the housing market across the UK since the world opened back up.

Buyers had to fork out over £15,000 more for homes in Birmingham last year, according to new figures.

The Office for National Statistics data has also revealed the most expensive and cheapest neighbourhoods in the city - along with the area where most homes have been sold.

The data shows the median house price hit £203,000 in Birmingham in the year to June – an increase of £17,800 compared to the previous 12 months.

House prices were also above pre-pandemic levels, with the average standing at £180,000 in the year to June 2019.

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

Where are the most expensive areas to buy a house in Birmingham?

These neighbourhoods in Birmingham recorded the highest median house prices in the year to June:

- Sutton Coldfield North and Park: £500,000 – up from £460,000 in 2019-20

- Wylde Green: £448,000 – up from £385,000

- Four Oaks: £391,000 – an increase from £320,000

- Little Sutton and Roughley: £390,000 – rising from £345,000

- Hill Hook, Sutton Coldfield: £385,000 – up from £320,000

Where are the cheapest areas to buy a house in Birmingham?

By contrast, the area recording the lowest average house price was Winson Green and Gib Heath, where homes sold for around £120,000 in 2020-21.

The figures also show the number of homes sold in Birmingham dropped year-on-year, from 10,224 to 9,829.

Which area of Birmingham has had the most residential property sales?

The largest proportion were in Harborne East, where 193 homes changed hands in the period.

Across England, residential property sales increased by 10% to 761,067.

What have property experts said about the data?

Martin Beck, chief economic adviser of economic forecasting group EY Item Club, said while Government measures such as the stamp duty holiday brought forward house purchases last year, the market could be set to change.

He said: “The prospect of a series of interest rate rises by the Bank of England in 2022 will translate into higher mortgage rates.

“And cost of living pressures faced by households from rising inflation and taxes mean fewer people will be able to afford to borrow the necessary amount they need to buy at higher mortgage rates.”

But Mark Harris, chief executive of mortgage broker SPF Private Clients, said mortgages are still competitively priced, meaning buyers will continue to “take the plunge”.

Nicky Stevenson, managing director at estate agent group Fine & Country, said with most agents still struggling to find enough homes to meet demand, the financial pressures were unlikely to have a “significant” impact on the market.

And property consultancy Knight Frank said high levels of requests from homeowners for a valuation of their property indicated more may be choosing to sell this year.

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