House prices in Birmingham increased by 3% in 2016 to average of £200,000 with the average property increasing in value by £5,600.
The information which comes from PlumPlot, an open data website which shows figures between December 2015 and November 2016.
Russell Quirk, eMoov CEO spoke about the rise in UK house prices saying:
“A late flourish for the UK housing market at the back end of 2016 sees price growth remain strong which will be welcomed by UK homeowners. It would seem positive news on house prices simply will not go away despite the efforts of some to make us accept that the market will weaken in the wake of EU referendum angst.
You can read the full results and compare your results by clicking here and using the PlumPlot website.
But what did the new data show?
- The most expensive place was Henley-in-Arden, Stratford-on-Avon. Where the average house price is £490,000. This is 145% more expensive than the average.
- The cheapest place was Aston, Birmingham where the average price was £73,500. Which is on average, 63% cheaper than the average Birmingham home.
- 6.5% of homes sold (Equivalent to 1600) in the last year were brand new homes. Whilst 93.5% were an established residential building.
- The cost of a new home in Birmingham was on average 15% more expensive with it costing £227,000 for a new build compared to the £198,000 for an existing home.
- Terraced houses were the most popular property type sold last year, counting for 33% (8,200 homes) of all sales with an average price of £153,000. Detached houses were the smallest sale only taking 17%. However, they went for over 135% more, selling on average for £363,000.
Check out the full breakdown…