A study has found the average price in Wolverhampton alone have shot up 183 per cent, from £50,814 to £143,980 – a difference of £93,166.
And it’s a similar story across other towns with property price increases since the year 2000 even higher in Dudley, up 189 per cent, Walsall, 198 per cent and in West Bromwich, 204 per cent.
In Stafford, prices have gone up 189 per cent, and in Cannock 193 per cent
Ron Darlington, partner at property auctioneer SDL Bigwood, said: “There is currently huge demand in the Black Country.”
Mr Darlington said property prices had probably gone up quicker in West Bromwich and Walsall due to first-time buyers from Birmingham looking at neighbouring areas.
Wolverhampton was ranked 86th out of 100 towns and cities for property price increases in the study by HouseSimple.com
Wolverhampton council aims to see 2,043 new homes built by 2026.
Plans are in the pipeline been approved to convert the former Telecom House and Crown House in the city centre into apartments.
Tim Johnson, deputy leader at Wolverhampton council, said: “We have a target on homes we have to deliver which is why we’re looking at former office blocks.”
Dudley was ranked 79th in the study. Dudley Council set a target in 2014 for 16,127 homes to be built by 2026.
They include 237 properties on industrial land in Shaw Road, Dudley, 250 on land off Darkhouse Lane in Coseley and 124 off Deepdale Lane in Upper Gornal.
If you are looking to buy your first home or are looking to remortgage then contact Apple Finance on 01902 213201 we are available until 9:00pm tonight.