Some of the £1m+ Black Country homes for sale as number of seven-figure houses rockets

The increase is higher than that seen across the rest of the country, with houses in leafy suburbs within the Black Country now tipping over the million pound mark as well as in more affluent rural areas of Shropshire and Staffordshire.

While the number of £1m homes in the West Midlands has more than tripled, the increase nationally in England and Wales is lower, at 93 per cent in the last 10 years. Research from lettings and estate agent Benham and Reeves found 79 per cent of local authorities have seen at least one £1m sale so far in 2022.

So far this year, 6,732 property purchases have been completed with a price tag of £1m or more. London has had the most at 3,342. For the West Midlands it is 127. Wales has had 26 – a 420 per cent increase on 2012.

While the volume of £1m-plus sales has increased in the last 10 years, the research by Benham and Reeves shows that the average sold price has dropped slightly. In 2012, the average sold price for homes purchased for £1m or more was £1.425m, today it sits at £1.35m – a drop of five per cent. Wales is down nine per cent from £1.35m to £1.22m but the West Midlands has risen five per cent from £1.18m to £1.23m.

Director of Benham and Reeves, Marc von Grundherr, said: “The higher end of the property market hasn’t been susceptible to the same drastic levels of house price appreciation seen across lower price thresholds in recent years, as it simply isn’t driven by the same high volume of homes changing hands.

“However, what we have seen is that high rates of house price appreciation are tipping many homes, in many areas including the West Midlands, over the one million pound threshold.

“A decade ago, a home was sold for one million pounds or more in just over half of local authorities in England and Wales. So far this year, 79 per cent of areas have seen a home purchased at this price or above and this really demonstrates just how much the market has changed.”

£1million+ homes in the Black Country

From a five-bedroom home to a farmhouse which dates back to the 16th century – here are some of the properties on the market for just over £1 million.

Between Wolverhampton and Dudley there is an five-bedroom detached period home which is on the market for £1.1 million – with the grounds extending to around three acres.

It boasts a generous-sized double garage and an array of brick outbuildings, with the home occupying an elevated position on the fringe of Penn Common, situated on the Penn Road section in Gospel End, Dudley.

The electric-gated entrance leads to an extensive asphalt driveway and parking area with additional hard standing parking provided beyond, adjoining the upper paddock.

The interior has been usefully enlarged by the present owners and now features an "exceedingly spacious layout" which is of an "excellent standard throughout".

Skitts Estate Agents, writing on Rightmove, say the property includes a reception hall, cellar, shower room, three reception rooms, living room and an open plan kitchen.

On the first floor is a landing which leads to four "generous-sized" bedrooms plus a fifth bedroom, small dressing room, shower room and family bathroom, the listing says.

Meanwhile, people living in Walsall can get their hands on a six-bedroom home which is described as being a "truly unique and contemporary family home" placed over three floors.

The home is situated on Back Lane, Aldridge, and features three reception rooms and is set behind electric gates. It is on the market by Paul Carr estate agents for £1.1m.

Near to Cannock Chase is a £1.25m property on the market at Chase Road, Brocton, which boasts five en-suite bedrooms with the main bedroom having full height windows which open directly onto the garden.

On the ground floor there is a separate study and a spacious utility room boasting an extensive range of cupboards, while the first-floor gallery landing features an aquarium which leads to a loft space and a cloakroom.

The rear of the property boasts a lower level garden, with a decked walkway taking the residents to the first floor which features a seating area – while a nearby gate leads directly onto Cannock Chase.

Meanwhile, a bit further afield in Upper Aston which is a small hamlet on the outskirts of Claverley, sits Whitehouse Farm, a Grade-II listed farmhouse.

The original part of the building is believed to date back to the 1500s, while the rest of the property has undergone a "comprehensive" scheme of improvements – along with the fully landscape gardens which extend to a third of an acre. It has three reception rooms, three double bedrooms and numerous outbuildings.

Meanwhile, in Wolverhampton, people can get their hands on a block of nine flats for £1.1m on Penn Road – with each flat having been refurbished. A selection of one-bed, two-bed and three-bed flats are included complete with private, residents-only parking at the rear, according to RightMove.

R&R Properties say the three-storey property has a financial potential of bringing in £6,500 a month which will equate to almost £80,000 per year.