The housing market has started to slow down and if the UK vote to leave the EU we are all facing some unpredictable times ahead! Here’s a summary of what’s happening in the Birmingham Property Market.
2016 has seen some employments to the Buy to Let sector that have affected vendors trying to sell their property in Birmingham. In April the government implemented an additional 3% on stamp duty exclusively to those who owned a second home.
This change does seem to have caused a slowdown in the property market in Birmingham.
According to the latest House Price Index for April 2016, the UK has seen an annual property price increase of 8.2% over the past 12 months (March 2015 – April 2106)
London experienced the biggest increase, seeing a huge 14.5% increase in the average property value, bring the average property price to a staggering £470,025.
The West Midlands also saw a significant annual increase at 7.1% bringing the average property price to £173,321.
Birmingham Property Market Summary…
- Average price of properties for sale in Birmingham is £207,160
- Average time on market for properties in Birmingham is 156 days
Average asking price and time on market of properties in Birmingham broken down by the number of bedrooms
|Number of bedrooms||Average asking price||Average time on market|
|one bedroom||£117,702||157 days|
|two bedrooms||£151,811||147 days|
|three bedrooms||£177,942||153 days|
|four bedrooms||£305,835||145 days|
|five bedrooms||£423,561||185 days|
Do you need to sell a house fast in Birmingham?
As the UK’s largest cash home buyer, Quick Move Now can buy any house in any condition any where in England and Wales. So if you have been trying to sell your house on the open market with no joy, or you are looking for a quick house sale to enable you to move onto to the next stage of your life, Quick Move Now can directly purchase your property in as little as 7 days!
Here are some recent properties Quick Move Now have bought in Birmingham…
If you would like to receive a free, no obligation cash offer for your property in Birmingham, simply complete the online form below or call and talk to one our our friendly property buyers on 0800 068 3366