Worcester VS the County- Comparing House Prices
Worcester has been able to maintain the high ground when comparing property prices to the rest of the West Midlands.
In May 2019, the average price of a West Midlands flat was £112,632. Not much cheaper than the average Worcester flat at £118,585. However, when looking at terraced houses, the difference is much greater. The average price of a terraced house in the West Midlands stands at weak £143,304 when compared to the average terraced house in Worcester with a price of £175,212!
This is nothing new either, property prices in Worcester have remained higher than those in the rest of the West Midlands since the financial crash in 2008. But, this may soon come to an end…
Between the middle of 2018 and May 2019, house prices in the whole of the West Midlands have been increasing faster than in Worcester. With the increase in West Midland house prices being up to 1.74% faster than that of Worcester, Worcester will soon lose its high ground and its house prices won’t be too dissimilar to the county average.
However, not all hope is lost for Worcester. In June 2019, Worcester house prices were increasing faster than the West Midlands once again and who’s to say this won’t continue? Furthermore, even if house prices were to increase faster across the county then in Worcester alone, it would be a long time before the West Midlands average surpasses the Worcester average.
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