Birmingham Property Summary

Birmingham Property Summary

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…

Houses_Quick_Move_Now_have_bought_for_cash_in_Birmingham

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