If you happen to own property in the West Midlands that you’re considering selling, you may want to act now. Property sales in the region have risen and estate prices in the area have gained 7 per cent year on year. That’s one of the fastest per cent growths in all of the UK, according to The Independent
Rising Costs Makes For a Sellers Market
The continued rise in housing prices makes property in the West Midlands a valuable commodity, enhancing the potential return for prospective sellers. Property sellers in the region can expect to gain a fair amount of quid when a prospective buyer purchases their estate. And that growth, according to analysts, is predicted to continue; over the next five years, the West Midlands is expected to surpass nearly every region in the UK in terms of house price growth.
Second Highest Increase By 2022
Of all regions in the UK, property in the West Midlands is currently on track to show the second highest increase in house prices by 2022, behind only the South West region. Numerically speaking, the increase in the West Midlands is expected to top 3.8 per cent, whilst the South West is expected to gain 4.3 per cent over that same period of time.
An ‘Up and Coming’ Region
An article in the Birmingham Post called the West Midlands an ‘up and coming’ region, saying many towns and cities in the area are experiencing a revitalisation. Some factors that continue to influence the area’s rebirth include:
• An influx of talented workers fleeing London to seek cheaper housing and cost of living in cities like Coventry and Birmingham
• Continued economic growth thanks to renewed investment in the region
• A strong local infrastructure that continues to prioritise funding for schools, rail lines, roads and hospitals in the region
How to Take Advantage
If you own property in the West Midlands, you may want to consider this an opportune time to sell. Doorsteps offers a free online property valuation
tool that will allow you to see how much your home is worth. To learn more or to see how to sell your home online for as little as £99, visit our website today.