Sandwell house prices increased in October

By Will Grimond, Data Reporter
Published 20th Dec 2023, 16:08 BST
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
General view of estate agents signs outside a block of flats in Basingstoke, Hampshire.
House prices increased by 1.3% in Sandwell in October, new figures show.

House prices increased by 1.3% in Sandwell in October, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 2.6% over the last year.

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The average Sandwell house price in October was £206,653, Land Registry figures show – a 1.3% increase on September.

Over the month, the picture was different to that across West Midlands, where prices decreased 0.5%, and Sandwell was above the 0.7% drop for the UK as a whole.

Over the last year, the average sale price of property in Sandwell rose by £5,200 – putting the area seventh among West Midlands’s 30 local authorities with price data for annual growth.

The highest annual growth in the region was in Stratford-on-Avon, where property prices increased on average by 6.9%, to £421,000. At the other end of the scale, properties in Herefordshire lost 4.2% of their value, giving an average price of £297,000.

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First steps on the property ladder

First-time buyers in Sandwell spent an average of £188,600 on their property – £4,700 more than a year ago, and £49,700 more than in October 2018.

By comparison, former owner-occupiers paid £227,700 on average in October – 20.8% more than first-time buyers.

Property types

Owners of detached houses saw the biggest rise in property prices in Sandwell in October – they increased 1.6%, to £340,361 on average. Over the last year, prices rose by 3.2%.

Among other types of property:

Semi-detached:
Terraced:
Flats:

How do property prices in Sandwell compare?

Buyers paid 18.4% less than the average price in West Midlands (£253,000) in October for a property in Sandwell. Across West Midlands, property prices are lower than those across the UK, where the average cost is £288,000.

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The most expensive properties in West Midlands were in Stratford-on-Avon – £421,000 on average, and twice the price as in Sandwell. Stratford-on-Avon properties cost 2.9 times the price as homes in Stoke (£145,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, at £1.4 million.

Factfile

Average property price in October

  • Sandwell: £206,653
  • West Midlands:£253,130
  • UK: £287,782

Annual change to October

  • Sandwell: +2.6%
  • West Midlands: -0.3%
  • UK: -1.2%

Highest and lowest annual growth in West Midlands

  • Stratford-on-Avon: +6.9%
  • Herefordshire: -4.2%