House Prices Rise in West Midlands, West Midlands

Property prices in West Midlands, West Midlands, rose by 3.8 per cent between January 2006 and January 2007.

According to the latest Land Registry figures, the average price of a property in West Midlands stood at £151,726 last January.

The average price of a detached home was £287,191 in January 2007, compared to £271,577 in the previous January, a difference of 5.8 per cent.

Semi-detached homes cost an average of £147,899 last January, compared to £146,469 the year before while the average price of a terraced home stood at £122,030 in January 2007, compared to £116,064 in January 2006.

The cheapest property purchased in West Midlands between January 2006 and January 2007 sold for £8,000 while the most expensive cost £3m.

In total, during the same period, £7,194m was spent on property in the area.

The average price of a house in West Midlands in January last year compares to £151,726 for the county of West Midlands and a national average of £211,232.