1985 – During the year that Wham’s Careless Whisper topped the UK singles chart the average West Midlands home would knock you back around £25,000. To put things in perspective a loaf of bread cost around 45p and a pint of beer 80p.
1995 – Wolverhampton Wanderers made the football league play-offs but failed to secure promotion. The official programme for the home leg would have cost £1.50. Meanwhile you wouldn’t get much change from £50,000 for a traditional three bedroom semi to the west side of Wolverhampton.
2005 – A traditional home on the same Wolverhampton residential street would now be marketed for up to £150,000 with the average property in the West Midlands now weighing in at around £168,000. The national average property price was now a touching the £190,000 mark. Oh, and if you had any money left over a litre of unleaded would cost 85p.
2015 – After a strong year for the housing market the average UK house price was now £208,000 with a West Midlands average of around £200,000 making it an ever improving region for price growth. Prices were now higher than just prior to the slump at the end of 2007.
2017 – Another good year for home sellers with most properties being snapped up quickly and at good prices. Property Portal Rightmove reported an average West Midlands property price at £219,818 as of October 2017. The national figure now stands at around £225,000.
2018 – One thing is for sure. The housing market is enjoying itself right now and there are plenty of buyers searching for their new home. You may also be interested to know that while property prices have been going up Estate Agency Fees have been coming down. At Proactive Property we offer our clients the opportunity to sell their home from as little as £834 which is a lower fee than the average agent would have charged in the late 90s. That’s less than 0.4% of the West Midlands average sale price including VAT.
Want to know what yours is worth? Please get in touch on 01902 440055 or request your free valuation online here.