The housing market - the Midlands

Though the area isn't renowned for its booming property market, there's still some interesting things going on in the Midlands. Property prices are still steadily on the up, and localised regeneration has created small pockets of activity, particularly in Birmingham and areas of Shropshire and Herefordshire.

The West Midlands continues to lead the way over the East of the region - but only just.

 
1. The statistics

Average price of a property in the Midlands:

• East Midlands: £145,941

• Monthly change: +1.5%

• Annual change: +6.9%

• West Midlands: £154,140
  

• Monthly change: +1.7%

• Annual change: +7.1%

 
1. The outlook

• Ups and downs
  

The region is characterised by local differences. Prices range from an average of just over £100,000 in Nottingham - which has suffered from bad press in recent years - to nearly £200,000. Commuter towns well connected to Birmingham, such as Worcester and Walsall, or the more traditional Shire towns to the West all fare well.

•  Revamping the cities

The biggest cities in the region have or will be undergoing major redevelopment, and are likely to have a positive affect on housing stock and prices: 

• The Eastside development in Birmingham continues, and high rise buildings in Snow Hill and Broad Street will transform the sky line
• Leicester is developing new business and science and technology quarters in the city, and a new waterfront area
• Nottingham is also undergoing ongoing development in the Southside, the Eastside and the Waterside parts of the city

3. Place to watch

Telford in Shropshire. Long known for its concrete jungle of a town centre, there's lots planned to transform this new town, making the area - already with good transport links - one to watch.

Help