The average property price in West Midlands region is £266k, the median price is £228k. The average price declined by £-7.6k (-3%) over the last twelve months. The price of an established property is £265k. The price of a newly built property is £336k. There were 48.7k property sales and sales dropped by 31.1% (-23.9k transactions). Most properties were sold in the £150k-£200k price range with 9864 (20.2%) properties sold, followed by £200k-£250k price range with 9023 (18.5%) properties sold.
| October 2023 - September 2024 | West Midlands region | England & Wales |
|---|---|---|
| Average price | █ £266k | █ £344k |
| Median price | █ £228k | █ £270k |
shows a number of properties sold in a given price range between October 2023 - September 2024.
| Property price range | Market share | Sales volume |
|---|---|---|
| █ under £50k | 0.5% | 242 |
| █ £50k-£100k | 6.2% | 3.0k |
| █ £100k-£150k | 13.3% | 6.5k |
| █ £150k-£200k | 20.2% | 9.9k |
| █ £200k-£250k | 18.5% | 9.0k |
| █ £250k-£300k | 13.4% | 6.5k |
| █ £300k-£400k | 14.5% | 7.1k |
| █ £400k-£500k | 6.3% | 3.1k |
| █ £500k-£750k | 5.2% | 2.5k |
| █ £750k-£1M | 1.3% | 658 |
| █ over £1M | 0.6% | 287 |
This price map shows the average property price in a given county. The most affordable place is 'Staffordshire' with the average price of £231k. The most expensive place is 'Warwickshire', £334k.
| County | Average price | % of West Midlands avg. price (£266k) | |
|---|---|---|---|
| Herefordshire | £319k | 120% | |
| Shropshire | £271k | 102% | |
| Staffordshire | £231k | 87% | |
| Warwickshire | £334k | 126% | |
| West Midlands | £248k | 93% | |
| Worcestershire | £312k | 117% | |
Comparison of the average property price and an average price percentage change by region. Price % change compares the average property price between October 2023 - September 2024 to the average price in the previous 12 months. The size of the circle shows the number of property transactions. The bigger the circle the higher the sales volumes in region.
Average price percentage changeWith the average price of £266k, West Midlands is the 5. most pricey region out of 10 England and Wales' regions.
| Price ranking | ||
|---|---|---|
| Rank | region | Average price |
| 1. | London | £678k |
| 2. | South East | £438k |
| 3. | East of England | £379k |
| 4. | South West | £353k |
| 5. | West Midlands | £266k |
| 6. | East Midlands | £254k |
| 7. | North West | £231k |
| 8. | Wales | £226k |
| 9. | Yorkshire | £224k |
| 10. | North East | £175k |
Yearly average nominal house prices adjusted for inflation.
| Real average price - nominal price adjusted for inflation | ||
|---|---|---|
| Year | West Midlands region | England & Wales |
| 2024 | £265k | £344k |
| 2023 | £298k | £390k |
| 2022 | £332k | £440k |
| 2021 | £331k | £434k |
| 2020 | £310k | £412k |
| 2019 | £299k | £394k |
| 2018 | £304k | £403k |
| 2017 | £302k | £412k |
| 2016 | £292k | £406k |
| 2015 | £282k | £394k |
| 2014 | £276k | £387k |
| 2013 | £273k | £380k |
| 2012 | £275k | £379k |
| 2011 | £287k | £389k |
| 2010 | £311k | £413k |
| 2009 | £292k | £371k |
| 2008 | £310k | £393k |
| 2007 | £331k | £415k |
| 2006 | £329k | £397k |
| 2005 | £317k | £379k |
| 2004 | £311k | £368k |
| 2003 | £278k | £331k |
| 2002 | £240k | £298k |
| 2001 | £208k | £262k |
| 2000 | £190k | £243k |
| 1999 | £177k | £221k |
| 1998 | £167k | £203k |
| 1997 | £161k | £192k |
| 1996 | £153k | £180k |
| 1995 | £154k | £177k |
Yearly average nominal prices compared to England & Wales' house prices
| Nominal average price | ||
|---|---|---|
| Year | West Midlands region | England & Wales |
| 2024 | £265k | £344k |
| 2023 | £270k | £354k |
| 2022 | £272k | £361k |
| 2021 | £260k | £342k |
| 2020 | £241k | £320k |
| 2019 | £225k | £296k |
| 2018 | £222k | £294k |
| 2017 | £213k | £290k |
| 2016 | £201k | £280k |
| 2015 | £193k | £270k |
| 2014 | £184k | £258k |
| 2013 | £177k | £247k |
| 2012 | £173k | £238k |
| 2011 | £172k | £233k |
| 2010 | £178k | £236k |
| 2009 | £168k | £213k |
| 2008 | £171k | £217k |
| 2007 | £175k | £219k |
| 2006 | £169k | £204k |
| 2005 | £158k | £189k |
| 2004 | £151k | £179k |
| 2003 | £131k | £156k |
| 2002 | £111k | £138k |
| 2001 | £94.3k | £119k |
| 2000 | £84.1k | £108k |
| 1999 | £76.8k | £96.0k |
| 1998 | £70.2k | £85.4k |
| 1997 | £65.7k | £78.5k |
| 1996 | £61.1k | £71.5k |
| 1995 | £59.1k | £67.9k |
Yearly average nominal price per square metre compared to England & Wales' house prices
| Nominal average price per m2 | ||
|---|---|---|
| Year | West Midlands region | England & Wales |
| 2024 | £2.8k | £3.6k |
| 2023 | £2.9k | £3.6k |
| 2022 | £2.9k | £3.7k |
| 2021 | £2.7k | £3.4k |
| 2020 | £2.5k | £3.2k |
| 2019 | £2.4k | £3.0k |
| 2018 | £2.3k | £3.0k |
| 2017 | £2.2k | £3.0k |
| 2016 | £2.1k | £2.9k |
| 2015 | £2.0k | £2.7k |
| 2014 | £1.9k | £2.6k |
| 2013 | £1.8k | £2.5k |
| 2012 | £1.8k | £2.4k |
| 2011 | £1.8k | £2.3k |
| 2010 | £1.8k | £2.3k |
| 2009 | £1.7k | £2.1k |
| 2008 | £1.8k | £2.2k |
| 2007 | £1.8k | £2.3k |
| 2006 | £1.8k | £2.1k |
| 2005 | £1.7k | £2.0k |
| 2004 | £1.6k | £1.8k |
| 2003 | £1.4k | £1.6k |
| 2002 | £1.1k | £1.4k |
| 2001 | £960 | £1.2k |
| 2000 | £851 | £1.1k |
| 1999 | £770 | £968 |
| 1998 | £705 | £862 |
| 1997 | £660 | £790 |
| 1996 | £614 | £710 |
| 1995 | £599 | £681 |
Yearly average nominal prices
Yearly average nominal prices
| Property type | Current average price |
|---|---|
| █ Detached | £436k |
| █ Flat | £147k |
| █ Semi-Detached | £251k |
| █ Terraced | £201k |
| Region | Median house price to median salary ratio in 2023 |
|---|---|
| North West | 6 |
| Wales | 6 |
| West Midlands | 7.2 |
| East Midlands | 7.4 |
| England and Wales | 8.14 |
| South West | 9.1 |
| South East | 10.2 |
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