Latest house price data may make concerning reading for homeowners in some of Birmingham's most affluent areas, where tens of thousands of pounds have been wiped from average property values over the last 12 months.
Significant drops in posh postcodes
According to new figures, property values have plummeted across many parts of the city, with some of the plushest spots experiencing large drop-offs. In B72 Sutton Coldfield, average house prices fell by over £30,000, from £386,000 to £353,000. Digbeth also saw a substantial decline, dropping from £249,000 to £212,000. Leafy B16 Edgbaston saw prices fall to £249,000 from last year's £257,000.
The data, based on sales in the 12 months to April, can be skewed by unusual purchases but provides an indication of typical selling prices in each area.
Mixed implications for buyers and sellers
While the declines may worry homeowners, they could boost first-time buyers saving for a deposit or families seeking larger homes in nicer areas. At the cheaper end, Aston (B6) remains the most affordable place to buy, with an average price of £169,965. Conversely, Four Oaks has the highest average sale price at £499,787, based on at least 20 sales over the past year.
Full list of areas where house prices fell
- B43 Great Barr: £255,000 to £248,000
- B42 Perry Barr: £226,000 to £215,000
- B19 Lozells: £208,000 to £173,000
- B18 Winson Green: £181,200 to £176,000
- B16 Edgbaston: £257,000 to £249,000
- B5 Digbeth: £249,000 to £212,000
- B8 Washwood Heath: £187,000 to £180,000
- B25 Yardley: £205,000 to £200,000
- B29 Selly Oak: £293,000 to £274,000
- B13 Moseley: £326,000 to £315,000
- B31 Northfield: £248,000 to £233,000
- B47 Hollywood: £393,000 to £387,000
- B37 Chelmsley Wood: £229,000 to £218,000
- B46 Water Orton: £311,000 to £292,000
- B73 Boldmere: £369,000 to £357,000
- B72 Sutton Coldfield: £386,000 to £353,000
