North Birmingham suburb Nechells had the lowest average price paid for a house in the Birmingham area during 2013, according to figures recently released by the land registry.
The price paid for houses sold in Nechells’ B7 postcode, close to Birmingham’s recently regenerated ‘Eastside’ area (B4), had an average house price of £74,600, down 13% from £94,850 for the equivalent period in 2012 – albeit with relatively small sample sizes.
The figures, released by the land registry in January, cover the prices paid for houses nationally between January and November 2013, and show a slight north/south divide developing between the average house prices paid within Birmingham:
Regionally, Birmingham’s average house price rose 4% in 2013, although Black Country propert fared worse, with houses price increases in Wolverhampton and Dudley falling below the CPI rate of inflation for the period of 2.62%, and house prices in Sandwell even falling slightly:
|Town/City||2013 Ave. Price Paid||2012 Ave. Price Paid||% Increase|
At the other end of the scale, just under four miles away, Edgbaston had the West Midlands’ most expensive house sale of 2013.
A house, on Farquhar Road, Edgbaston, Birmingham, B15, was sold for £1.54m, the highest price paid in the West Midlands metropolitan area during the year according to the data.
|#||Price Paid||Postcode||Road/Street||Addrres 2||Area||Town/City|
|2||£1,375,000||B93||BLUE LAKE ROAD||DORRIDGE||SOLIHULL||SOLIHULL|
|3||£1,275,000||DY8||QUARRY PARK ROAD||STOURBRIDGE||DUDLEY|
|5||£1,237,500||B93||BLUE LAKE ROAD||DORRIDGE||SOLIHULL||SOLIHULL|
|6||£1,225,000||B74||LADYWOOD ROAD||SUTTON COLDFIELD||BIRMINGHAM|
|7||£1,150,000||B93||NETHERWOOD LANE||CHADWICK END||SOLIHULL||SOLIHULL|
|10||£1,125,000||B94||WINDMILL LANE||HOCKLEY HEATH||SOLIHULL||SOLIHULL|
In total, £1.17billion was spent on house purchases in Birmingham in 2013, the largest amount in the West Midlands, up 7% for the equivalent period in 2012.
The amount spent on houses in Sandwell actually fell, by 4% to £214million.
Wolverhampton had the lowest total amount spent on property in 2013 in the West Midlands.
|Town/City||Total price paid 2013||Total price paid 2012||% Change|
‘Price paid’ information is based on residential properties sold for market value and excludes commercial transactions, sales not lodged with Land Registry, and sales that were not for full market value (for example, part of a property, a share of a property or the sale of a property at a discount).