West Midlands property prices growing well
House prices in the West Midlands are growing well, with prices up 3.2% anually in May according to the LSL House Price Index.
Prices in Warwickshire hit a new peak average, up 5.7% over the year. Prices in the West Midlands conurbation are also growing above average - up 5.4% which is the stongest growth among the 12 major urban centres in England and Wales, with Leicester also growing strongly with house prices up 4.3% anually in May.
The average house price for the West Midlands in May was £221,813.
In Rutland (East Midlands) annual and monthly growth is the strongest in England and Wakes - prices here were up 7% in May, hitting a new peak price, and up 18.5% over the year. However, Rutland also had the lowest number of transactions in the country.
Overall the East Midlands was the only region where prices were up in all of its unitary authorities. The average house price for the East Midlands in May was £211,846.
Across all of England and Wales, housing transactions were down by 8% year-to-date to June 2018, but house prices were up 2.1% annually. The average house price across England and Wales in June was £303,960.