How Birmingham house prices are soaring for first-time buyers - Birmingham Mail

How Birmingham house prices are soaring for first-time buyers – Birmingham Mail

While the national average cost of buying a house has increased by 5 per cent, the increase in Birmingham was higher, at 6 per cent. Other areas such as Solihull and Wolverhampton also increased, at 8 per cent and 7 per cent respectively. Conversely Dudley only saw in increase of 4 per cent in the past year, lower than the national average. This means those buying houses may see an increase of 8k for initial purchase.

Key Takeaways:

The average price for first time homebuyers in Birmingham has risen in the past year.
Since last year, the average price for first time home buyers has risen six percent in Birmingham.
Increases are not just centralized to Birmingham, many cities in the area are seeing similar increases.

“Across the country, the average house price for new buyers rose from £191,285 last year to £200,770 this May – an increase of five per cent.”