Property News - The West Midlands house price ‘tube map’



Posted on Monday, February 15, 2021

Local estate agent, Barrows and Forrester, has taken a look at this potential transport overhaul and how house prices currently fare around each existing and potential station for homebuyers with an eye on a long-term investment. 

Earlier this year, Mayor of the West Midlands, Andy Street, released his version of what the West Midlands transport network could look like in 2040; should several new and improved lines get the go-ahead. 

Most expensive

When looking at the overall cost of buying across each line, it is the potential HS2 line that takes the top spot. House prices around stations due to potentially benefit from the project currently average £312,846. 

The potential Lee Woods line from Sutton Coldfield to Solihull is also home to a similar average property value at present, with house prices surrounding its stations going for an average of £312,235. 

In terms of the most expensive stations, Dorridge ranks as the highest with an average house price of £505,923. 

With the Streetly, Butlers Lane, Blake Street and Four Oaks stations all falling within the same postcode, they also rank as some of the most expensive with an average house price of £407,292. 

So which line and station offer the best value? 

Most affordable

In terms of the overall line, the Black Country line is currently home to the lowest average house price at £173,677. 

The Midlands line also comes in below £200,000, with a current average across all stations of £185,686. 

For individual station affordability, Bescot Stadium and Paddock come out on top. Property prices surrounding both currently go for an average of £121,321. 

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

“Although it’s unlikely to materialise exactly as designed in this map, the future development of the West Midlands transport network is an exciting prospect for all due to benefit. 

It’s vital we continue to invest in the region and public transport will play a big part in this and in stimulating the region’s wider economy. 

While the changes are unlikely to be as expansive as the mayor’s 2040 vision, there are several transport developments already underway, and this should continue to grow. 

Therefore we wanted to highlight the cost of buying across this potential network at the moment, for West Mids homebuyers with an eye on the future. 

Our previous research demonstrated that living nearby a train station can increase your home’s value by as much as six per cent. Although not all of these areas will benefit, it’s likely that a great deal will. So by snapping up a bargain now, homeowners could be quids in further down the line. 

This map allows home buyers to see the cost of buying across the board and enables them to make a more informed decision based on their budget.”

Ranked based on highest average house price by line

Line

Average House Price

HS2

£312,846

Lee Woods

£312,235

Automated People Mover

£281,734

Elizabeth

£249,635

Autonomous Pods

£248,945

Chamberlain

£246,599

Godiva

£240,633

Zephaniah

£233,094

West Midlands Overground Rail

£231,451

Macarthur

£206,891

Midland

£185,686

Black Country

£173,677

Average house price is based on average across all stations on each line.

Data sourced from PropertyData

   

Ranked based on highest average house price by station

Station

Average House Price

Dorridge

£505,923

Streetly

£407,292

Butlers Lane

£407,292

Blake Street

£407,292

Four Oaks

£407,292

Widney Manor

£399,823

Solihull

£399,823

Kenilworth

£383,293

Berkswell

£365,506

Ansty

£365,506

Average house price is based on average in each station postcode.

Data sourced from PropertyData

   

Ranked based on lowest average house price by station

Station

Average House Price

Bescot Stadium

£121,321

Paddock

£121,321

Walsall

£123,864

Wolverhampton

£127,570

Wolverhampton St George's

£127,570

Aston

£136,995

Witton

£136,995

Willenhall

£141,230

Smethwick Galton Bridge

£145,763

Smethwick Rolfe Street

£145,763

The Hawthorns

£145,763

Average house price is based on average in each station postcode.

Data sourced from PropertyData






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