Regional Property Market Update Spring 2021: West Midlands and Wales region - Regional Property Market Update Spring 2021: West Midlands and Wales region Book a Property Valuation
News & Legislation February 25, 2021
     

Regional Property Market Update Spring 2021: West Midlands and Wales region

At 6.9% and 7.0% respectively, average annual price growth in the West Midlands and Wales is slightly lower than the UK average. In the West Midlands growth is currently stronger than at any point since summer 2016, in Wales since before the Global Financial Crisis. In eleven areas growth currently exceeds 7.5%. Although Rightmove report a slight fall in asking prices month on month, properties are selling more quickly than a year ago.

 

Annual price growth has strengthened across the UK in recent months

West midlands and wales regional property market report house price growth

 

Most active housing markets across the West Midlands and Wales region

Average property prices in the West Midlands and Wales are more expensive than a year ago and activity across the market is robust. On average 3.3% of private properties are sold each year, with turnover in five areas currently 4% or above. Over 15,400 new homes were registered for sale during 2020, and nationally registrations have been on an upward trend since September.

First-time buyers were particularly affected by the closed housing market and the stricter mortgage lending that followed. However, buyer numbers have recovered steadily, with transactions just 2% lower year on year during the final six months of 2020 (UK Finance). The number of High Loan-to-Value (LTV) mortgage products has also increased, Moneyfacts reporting there were 169 products available at 90% LTV in January, over double the number available back in July. Lending rates remain low, the average mortgage rate the lowest in history.

 

Spring 2021 property maket update - West Midlands and Wales regional table

 

VIEW THE FULL WEST & SOUTH WALES REGIONAL REPORT

 

 

Properties for sale in the West Midlands and Wales

Shrewsbury, Shropshire, 4 bedrooms

shropshire contemporary sunny home for sale

Mulberry House is a spacious, modern, detached cottage in a convenient location, in the delightful, ancient hamlet of Acton Burnell. Recently constructed to exacting standards, this highly desirable home offers superb and stylish accommodation to briefly include four bedrooms, a lounge and a wonderful open-plan kitchen, dining room and sitting room.

 

Pershore, Worcestershire, 3 bedrooms

pretty english thatched cottage

This delightful, thatched Grade II Listed cottage has origins believed to date back 400 years. The cottage is extremely well presented and maintained throughout with lovely character features including an Inglenook fireplace with a gas wood burner, exposed beams and wooden latched door. The charming cottage gardens have a variety of trees, shrubs and flowering plants, while a drive provides parking for at least two vehicles.

 

Powys, Wales, 3 bedrooms

powys wales pretty farmhouse with gardens.

This 27-acre smallholding is home to a period farmhouse, landscaped gardens, five enclosures of pastureland, woodland areas, a summer house, a garage, a useful outbuilding and stabling. The accommodation comprises a sunroom/breakfast room, a kitchen, two reception rooms, three bedrooms and a bathroom.

 

Contact us

If you want independent guidance on moving home or are looking for the best agent in your area, find your local Guild Member today. 

 

BOOK A VALUATION

 

Summer 2021 Market Report: Momentum Continues

Regional Property Market Update Summer 2021: South West

Regional Property Market Update Summer 2021: East Midlands

Regional Property Market Update Summer 2021: Essex, Norfolk and Suffolk

                   

      

CONTACT US
 

Homecare Estates

3 Ross Parade

Wallington

SM6 8QG
 

Associated Park Lane Office

119 Park Lane

Mayfair

London

W1K 7AG

ABOUT US

 

Welcome to Homecare Estates As an experienced independent sales and lettings estate agent in Wallington we provide a unique range of market intelligence and unbiased professional advice. Some of the areas we cover include Wallington, Carshalton, Carshalton Beeches, Sutton, Belmont, Hackbridge, Beddington, Croydon and Purley. We hope we can be of service to you.