Stourbridge home sells for £1.4m as market booms
A town has seen one of the most expensive residential property sales in the West Midlands in the last year.
A house in Racecourse Lane, Stourbridge, sold for £1,475,000 and the DY8 postcode area within which it falls sees one of the highest average sale prices in the West Midlands. The region 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.
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 £1 million and above over the last 12-months.
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 at £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.
The DY8 postcode at £1.25m is the first to rank in the region outside of the B postcode district.
Managing director of Barrows and Forrester, James Forrester, said: “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.”
