Cheapest and most expensive houses in the West Midlands revealed in report

West Midlands Combined Authority’s draft ‘State of the Region 2024/25’ set out the areas which have the cheapest and most expensive homes to buy and the levels of rents in the towns and cities.

Cost of renting social and private houses also follow a similar trend and have risen in the past few years.

The report also highlighted that homelessness continues to rise across the region.

West Midlands Mayor Richard Parker has pledged to build 20,000 new social homes over the next decade and the paper said more affordable and good quality housing was essential.

The report said: “Housing costs vary significantly across the WMCA area, with average house prices ranging from £206,000 in Sandwell to £355,000 in Solihull.

“Rental costs follow a similar pattern, with Birmingham at the higher end at £1,025 per month and Dudley at the lower end at £771 per month.

“Private rents in the WMCA account for 26.2 per cent of household income, below the England average of 34.2 per cent.

“However, home ownership has become less affordable, with median house

prices 6.61 times average annual earnings in 2023, up from 4.77 in 2013.

“Solihull is the least affordable area, while Coventry is the most affordable, relative to incomes.

“Demand for social housing remains high, with 64,382 households on the waiting list.

“The West Midlands region has 237,373 social housing units, with average weekly rents of £89.69 for local authority properties and £103.94 for private registered properties.

“Disparities in access persist, with ethnic minorities under-represented in new social housing allocations in some local authorities.

“Local Housing Allowance (LHA) rates, intended to make private renting accessible for low-income households, fail to meet rising rental costs. In 2024, only 12 per cent of private rental properties in the WMCA area were affordable within LHA limits, a slight improvement from previous years but still far below the intended coverage of 30 per cent.

“Homelessness remains a pressing issue, with 19,252 households seeking assistance in 2023/24, a 16 per cent increase from the previous year.

“Despite this rise, the rate of homelessness per 100,000 households has decreased to 8.44, though it remains above national and regional averages.

“Coventry has the highest rates of homelessness, while Walsall has the lowest.”

It added: “The increase in the cost of living over the past few years continues to put pressure on household finances for home-owners and renters alike, with

increases in monthly rental and mortgage costs.

“There are disparities in how the cost of living is felt by different population groups and across our towns and cities.

“Given that the next biggest costs following rent/mortgages are transport costs and food, investments and support with travel costs is also an important consideration in reducing cost pressures for households.

“There is a need to ensure that homes are of a decent standard, and the work to unlock key housing sites connected to transport networks is a huge opportunity to create more affordable and decent homes for everyone.”