Solihull house prices increased slightly in June

File photo dated 14/10/14 of sold and for sale signs. House prices across the UK are expected to increase by 4 percent this year, according to a property group's forecasts. Issue date: Tuesday March 9, 2021.

House prices increased slightly, by 0.6%, in Solihull in June, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 14% annual growth.

The average Solihull house price in June was £309,403.7017, Land Registry figures show – a 0.6% increase on May.

Over the month, the picture was less good than that across the West Midlands, where prices increased 5.6678457%, and Solihull underperformed compared to the 4.4989563% rise for the UK as a whole.

Over the last year, the average sale price of property in Solihull rose by £38,000 – putting the area 12th among the West Midlands’s 34 local authorities for annual growth.

The best annual growth in the region was in Shropshire, where property prices increased on average by 20.9%, to £256,000. At the other end of the scale, properties in Warwick gained 3.1% in value, giving an average price of £325,000.

Winners and Losers

Owners of semi-detached houses saw the biggest improvement in property prices in Solihull in June – they increased 0.7%, to £315,021.0161 on average. Over the last year, prices rose by 14.3%.

Among other types of property:

Detached: up 0.7% monthly; up 14.9% annually; £532,652.0387 averageTerraced: up 0.3% monthly; up 14% annually; £234,044.8816 averageFlats: up 0.5% monthly; up 11.9% annually; £173,482.7057 average

First steps on the property ladder

First-time buyers in Solihull spent an average of £244,000 on their property – £29,000 more than a year ago, and £45,000 more than in June 2016.

By comparison, former owner-occupiers paid £357,000 on average in June – 46.0% more than first-time buyers.

How do property prices in Solihull compare?

Buyers paid 33.7% more than the average price in the West Midlands (£231,000) in June for a property in Solihull. Across the West Midlands, property prices are higher than those across the UK, where the average cost £266,000.

The most expensive properties in the West Midlands were in Stratford-on-Avon – £342,000 on average, and 1.1 times as much as in Solihull. Stratford-on-Avon properties cost 2.7 times as much as homes in Stoke (£126,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).

Factfile

Average property price in June

Solihull: £309,403.7017The West Midlands:£231,428.6977UK: £265,668.1787

Annual growth to June

Solihull: +14%The West Midlands: +15%UK: +13.2%

Best and worst annual growth in the West Midlands

Shropshire: +20.9%Warwick: +3.1%