Price growth strong across all regions
Annual property price growth in the West Midlands and Wales is significantly stronger than a year ago, as the shortage of property to buy continues to support prices. Agents across the West Midlands and Wales report the current sales to stock ratio is at a record high (RICS), with properties selling in just 34 days and 35 days respectively (Rightmove).
Double-digit property price growth is evident in 24 areas of West Midlands and Mid Wales. Pembrokeshire and Shropshire are currently the strongest performing areas.
Surge in sales
It is estimated 880,000 property sales took place across the UK in the first six months of 2021, the highest half year total ever recorded and 50% higher than the same period in 2019 (HMRC). It is anticipated sales will top 1.5 million over the course of the year. Buyers have been spurred on by a desire for change and financial savings as a result of taxation ‘holidays’, with over 60% paying no tax on their purchase.
In the West Midlands and Mid Wales, the most active housing markets over the past year have been in Stratford-on-Avon and Rugby.
Space to be
The search for space continues to drive many buying decisions. As businesses adopt more flexible ways of working, blended working patterns are set to become the norm for many, and personal wellbeing has shot up the agenda. The local environment, gardens, greater internal square footage and a demarcated space to work from home, all continue to be deemed more important property features in a new home.
Properties for sale in the West Midlands and Mid Wales regions of the UK
Tettenhall, West Midlands, 5 bedrooms
Occupying a choice position on an established road, this executive detached residence offers a high standard of contemporary and modern living throughout. This stunning and individually designed family home includes an entrance hall, a lounge, a dining room, a kitchen, a utility, a downstairs WC, five bedrooms, two en-suites, one house bathroom, a generous rear garden and a driveway to the fore, which allows ample parking for several vehicles.
Montgomery, Wales, 4 bedrooms
Originally the local school and chapel, this unique property was converted by a well-known local builder into an outstanding individual house. Set in mature grounds with fantastic views over the Severn Valley and towards the Shropshire Hills, this four-bedroom former schoolhouse and chapel benefits from an additional two-bedroom annexe, an open-plan living and dining kitchen, a utility, and a double garage, as well as parking for several vehicles.
Draycote, Warwickshire, 3 bedrooms
Caritas cottage is a traditional English cottage full of charming characteristics such as exposed beams, wood burning stoves, a pantry and beautiful cottage gardens. The home offers these features along with the modern conveniences of an energy efficient air source heat pump, double glazing, a utility room, a conservatory and bespoke hand-crafted kitchen units with granite worktops in the kitchen.
Make the most of double-digit property price growth with the best estate agent in your area. Contact your local Guild Member today.