If you bought a house in a corner of Harborne 20 years ago you might be feeling pleased with yourself – as prices have increased six-fold. The average price of properties in the B17 8 area, which includes streets like Matthew Court, Gillhurst Road and Perrott Way, have risen by 533 per cent since.
This means people who bought a house for the average price of £45,000 in 1995 had a property worth £285,000 in 2015 – or a £12,000-a-year return on your money. Elsewhere, in B16 0, in Edgbaston, prices were up 439 per cent, from £34,300 in 1995 to £185,000 in 2015, while in B66 3, in Smethwick, prices were up 431 per cent from £26,000 to £138,000.
Figures on house prices come from the Land Registry price paid data, and are based on postcodes with six or more sales in both 1995 and 2015.
So where should you look to make a return in the future?
HS2 coming to Birmingham and Solihull and plans for the extension of the Midland Metro stood a chance of increasing the value of homes nearby. “My punt would be homes next to the Metro extension out towards the airport. I think some value will be realised around there, as it will become a good route into the city centre. “At the moment, everyone is looking around Digbeth but I think looking longer term, Sheldon and Solihull will be a pull.”
Here is the full list:
- B17 8 (Harborne): From £45,000 to £285,000
- B16 0 (Edgbaston): From £34,300 to £185,000
- B66 3 (Smethwick): From £26,000 to £138,000
- B19 2 (Lozells): From £25,500 to £133,748
- B15 1 (Lee Bank): From £32,500 to £170,000
- B14 7 (Kings Heath): From £47,700 to £217,500
- B18 5 (Winson Green): From £22,500 to £98,000
- B45 8 (Rubery): From £55,000 to £239,500
- B70 7 (Sandwell): From £35,000 to £149,950
- B75 5 (Mere Green): From £65,250 to £277,500