Property News - The £1m+ West Midlands Property Postcodes



Posted on Monday, February 15, 2021

Local Birmingham estate agent, Barrows and Forrester, has taken a look at which postcode pockets of the region have been driving the market at the top-end, based on sales of £1m and above over the last 12-months. 

The West Midlands has become one of the regional powerhouses of the UK property market, showing consistent growth and home to the highest asking price outside of London and the South. 

The average transaction for homes above the £1m mark in the West Midlands sits at £1.205m over the last 12 months, not that far behind London (£1.38m).

Warwick Road in the B93 postcode of Solihull ranks top when it comes to the most expensive sale over the last 12-months. A detached home on the road sold for £2.2m making it the most expensive registered property transaction in the region, with nearby Temple Road also seeing a detached house sell for £2.1m. 

However, it’s the B15 postcode that ranks as the most prestigious pocket of the West Midlands property market. Spanning parts of Westside and Edgbaston, and home to the Birmingham Botanical Gardens and the University of Birmingham, the average sold price for property transactions over £1m sits at £1,350,000 over the last year. 

To the South East, Solihull’s B91 postcode is the region’s next £1m+ property hotspot with an average sold price of £1,287,500 over the last year, with Sutton Coldfield’s B74 postcode ranking as the third most expensive (£1,275,000). 

The DY8 postcode in Stourbridge (£1.25m) is the first to rank outside of the B postcode district, with B94 (£1.195m), B75 (£1.190m), B93 (£1.175m) and B92 (£1.110m) also amongst the top £1m+ property price postcodes. 

Coventry’s CV4 postcode is the only other one to rank outside of the B postcode district with an average sold price of £1.110m for transactions above £1m, with B13 (£1.1m), B17 (£1.086m), B73 (£1.050m) and B90 (£1,050m) also making the list. 

Managing Director of Barrows and Forrester, James Forrester, commented:

“The property market in the West Midlands is alive and well, and some may argue that the Midlands as a whole has been the driving force of the UK market in recent months. 

Particularly during the prolonged period of political uncertainty caused by Brexit, the region continued to perform well with a healthy level of transactions and consistent, but not excessive price growth. 

This is because we’re a lot more grounded in the Midlands compared to our homeowning counterparts to the south. We don’t get carried away with the value of bricks and mortar, and we don’t stick our heads in the sand due to marginal price reduction, stalling the market in the hope of turning a more substantial profit further down the road.

As a result, the West Midlands property market is built on sensible foundations and at the top end, a one million pound house is still a million-pound house. Not a shoebox with a shower in the kitchen, as this research demonstrates.” 

Median sold price for all transactions over £1m in the last 12 months

Location

Median Sold Price

England and Wales (all)

£1,325,000

England and Wales (excluding London)

£1,260,000

London

£1,380,000

West Midlands

£1,205,000

   

Most expensive postcodes in the West Midlands based on median sold price over £1m+ in the last 12 months

Outcode

Median Sold Price

B15

£1,350,000

B91

£1,287,500

B74

£1,275,000

DY8

£1,250,000

B94

£1,195,000

B75

£1,190,000

B93

£1,175,000

B92

£1,110,000

CV4

£1,110,000

B13

£1,100,000

B17

£1,086,500

B73

£1,050,000

B90

£1,050,000

 

Most expensive property sales in the West Midlands over the last 12 months

Price

Outcode

Type

Street

Town/City

District

County/Area

£2,200,000

B93

D

WARWICK ROAD

SOLIHULL

SOLIHULL

WEST MIDLANDS

£2,100,000

B93

D

TEMPLE ROAD

SOLIHULL

SOLIHULL

WEST MIDLANDS

£1,995,000

B74

D

FOUR OAKS ROAD

SUTTON COLDFIELD

BIRMINGHAM

WEST MIDLANDS

£1,800,000

B93

D

KNOWLE WOOD ROAD

SOLIHULL

SOLIHULL

WEST MIDLANDS

£1,700,000

B15

D

AUGUSTUS ROAD

BIRMINGHAM

BIRMINGHAM

WEST MIDLANDS

£1,625,000

B91

D

WIDNEY MANOR ROAD

SOLIHULL

SOLIHULL

WEST MIDLANDS

£1,550,000

B74

D

BEACONSFIELD ROAD

SUTTON COLDFIELD

BIRMINGHAM

WEST MIDLANDS

£1,500,000

B91

D

NEWCOURT GARDENS

SOLIHULL

SOLIHULL

WEST MIDLANDS

£1,500,000

DY8

D

RACECOURSE LANE

STOURBRIDGE

DUDLEY

WEST MIDLANDS

£1,475,000

B15

D

ST GEORGES CLOSE

BIRMINGHAM

BIRMINGHAM

WEST MIDLANDS






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