Sandwell house prices increased more than West Midlands average in June
House prices increased by 1.3% – more than the average for West Midlands – in Sandwell in June, new figures show.
The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.2% over the last year.
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Hide AdThe average Sandwell house price in June was £199,445, Land Registry figures show – a 1.3% increase on May.
Over the month, the picture was different to that across West Midlands, where prices increased 0.7%, and Sandwell was above the 0.7% rise for the UK as a whole.
Over the last year, the average sale price of property in Sandwell rose by £8,100 – putting the area sixth among West Midlands’s 30 local authorities with price data for annual growth.
The highest annual growth in the region was in Newcastle-under-Lyme, where property prices increased on average by 8.1%, to £204,000. At the other end of the scale, properties in Staffordshire Moorlands lost 0.1% of their value, giving an average price of £224,000.
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First-time buyers in Sandwell spent an average of £181,800 on their property – £7,100 more than a year ago, and £48,700 more than in June 2018.
By comparison, former owner-occupiers paid £220,100 on average in June – 21.1% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest rise in property prices in Sandwell in June – they increased 1.5%, to £178,783 on average. Over the last year, prices rose by 3.6%.
Among other types of property:
- Detached: up 1.1% monthly; up 4.8% annually; £329,763 average
- Semi-detached: up 1.3% monthly; up 4.7% annually; £214,161 average
- Flats: up 1.4% monthly; up 3.2% annually; £109,220 average
How do property prices in Sandwell compare?
Buyers paid 20.5% less than the average price in West Midlands (£251,000) in June 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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Hide AdThe most expensive properties in West Midlands were in Stratford-on-Avon – £400,000 on average, and twice the price as in Sandwell. Stratford-on-Avon properties cost 2.8 times the price as homes in Stoke (£144,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, with an average price of £1.3 million.
Factfile
Average property price in June
- Sandwell: £199,445
- West Midlands:£250,743
- UK: £287,546
Annual growth to June
- Sandwell: +4.2%
- West Midlands: +3.2%
- UK: +1.7%
Highest and lowest annual growth in West Midlands
- Newcastle-under-Lyme: +8.1%
- Staffordshire Moorlands: -0.1%