House prices in Wolverhampton are on the up

House prices in the West Midlands rose by 5.2 per cent In the 12 months to January while those in Staffordshire went up 3.1 per cent. The West Midlands is the second fastest growing region for house prices across the country.

Wolverhampton £151,536   January 2019        January 2018   £142,764   6.1 increase

Cannock               £169,152    January 2019      January 2018   £159,973   5.7 increase

Walsall                £165,986     January 2019      January 2018   £157.785   5.2 increase

Dudley                 £171,643   January 2019        january 2018  £165,194    3.5 increase

Shropshire          £212,168                                January 2019        January 2018  £206,359   2.8 increase

Stafford              £203,618    January 2019       January 2018   £198,404   2.6 increase

The next biggest rise was in Wolverhampton, with house prices going up by 6.1 per cent over the year. Home Buyers are now paying an average of £151,536, compared to £142,764 in January last year. Wolverhampton City (yes don’t forget it is a city now.) was the only local area to boast an increase between December and January, with prices creeping up by 0.1 per cent.

Wolverhampton City was the only local area to boast an increase between December and January, with prices creeping up by 0.1 per cent. In Staffordshire, houses in Cannock now sell for an average of £169,152, a 5.7 per cent increase on the average of £159,973 in January last year. Staffords house prices rose by 2.6 per cent in 12 months. The average cost of a house in the borough is now £203,618, compared with £198,404 last year.

The average house price in the West Midlands is £184,544 compared to £190,590 in Staffordshire. House prices in Wolverhampton are below the national average of £228,147. Despite still being behind the UK average, there is reason for home owners across the region to be optimistic due to high levels of growth. The Midlands and North are showing robust house price growth: Wales showed the fastest house price growth in Britain, followed by the Midlands. So the house values in Wolverhampton are still behind the national average, well this represents excellent value for first time buyers and Buy to let investors. As always if you need mortgage advice call Paul on 01902 213201