October 4, 2022

The Birmingham North-South property divide revealed

Analysis by property and lettings agent, Barrows and Forrester, has revealed that with regards to the Birmingham North-South divide, the north wins with regards to total property affordability.

Barrows and Forrester analysed home costs throughout every native authority inside Birmingham, dissecting the town down the center to seek out what the North-South divide presently seems to be like.

The analysis reveals that home costs in native authorities to the north common £194,227, whereas areas within the south command £209,428 – 8% extra.

Actually, all however one native authority within the south is dwelling to a median home worth of greater than £200,000.

Edgbaston is dwelling to the very best home costs within the south of Birmingham, coming in at £233,736. Selly Oak additionally ranks excessive at £227,911, adopted by Corridor Inexperienced (£213,028) and Northfield (£200,456).

Yardly is the one space to the south of Birmingham boasting a extra inexpensive property market, with the common home worth presently sitting at £177,102.

In distinction, only one native authority to the north of Birmingham is dwelling to a median home worth above £200,000.

Hodge Hill is essentially the most inexpensive of the lot at £162,579, with Perry Barr (£164,047), Ladywood (£166,796) and Erdington (£171,686) additionally coming in beneath that of any space to the south of Birmingham.

Nevertheless, at £361,906, Sutton Coldfield is by far the most costly space of the Birmingham housing market and the one space to buck the broader pattern of affordability discovered within the north of Birmingham.

James Forrester, Managing Director of Birmingham property agent Barrows and Forrester, commented: “There’s fairly a noticeable North-South divide the place the Birmingham property market is anxious, with the southern half boasting significantly increased home costs. Nevertheless, there stay good pockets of affordability each centrally and to the north of the town centre and with such intensive regeneration plans underway, these areas are solely prone to develop in worth.

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We’re already seeing excessive demand from consumers throughout these areas and even additional afield, which was the first cause we opened our Lichfield department and this ongoing purchaser curiosity is barely going to strengthen the market throughout Birmingham and the encompassing areas.”

Jemma Harrison, Department Supervisor of Barrows and Forrester’s Lichfield department, commented: “Sutton Coldfield is likely one of the extra fascinating areas within the north of Birmingham however home costs have climbed extremely excessive and so many consumers are in search of that subsequent best choice. Whereas it falls exterior the Birmingham boundary, Lichfield has turn into that possibility for a lot of, because the extra inexpensive market permits them to purchase greater, however whereas remaining inside attain of Birmingham.”