What’s the average UK house price?

It may surprise you to know that the average price of a house in the UK has now reached just over £260,000. This is a record high for the UK property market and makes the price of a typical home about 20% higher than in February 2020, equating to a value of about £44,000.

This is the seventh month in a row that house prices have risen. This is due to a number of factors, including the threat of interest rate rises from the Bank of England, the ending of Covid restrictions, and competitive mortgage rates.

However, the market cannot continue to do this indefinitely as there are factors that will limit this growth such as the lack of properties on the market, the rising cost of living, and interest rate rises. All of this will slow down demand and ultimately cause prices to stop rising.
Here’s a few examples of what you could buy for £260,000 in Solihull and the surrounding area:

1-bedroom apartment in Solihull: £265,000 
https://www.smart-homes.co.uk/details/property/28008-1-bed-in-broadoaks-streetsbrook-road-solihull
This large one-bedroom apartment would make an ideal investment purchase. It’s an easy walk to the town centre and features high-spec and stunning contemporary interiors, with allocated parking and an ICW build warranty. 

2-bedroom mid-terrace property in Dickens Heath: offers over £265,000
https://www.smart-homes.co.uk/details/property/27887-a-two-bedroom-mid-terrace-property-in-calcutt-way-dickens-heath
Dickens heath is a popular choice with its wide array of shops, restaurants, and local amenities, all positioned close to open countryside and beautiful canals. This property features two double bedrooms as well as a lovely South Westerly garden.

3-bedroom semi-detached house in South Yardley: offers over £260,000
https://www.smart-homes.co.uk/details/property/28319-a-three-bedroom-semi-detached-property-in-bryn-arden-road-south-yardley
This property has been thoughtfully refurbished and features a stunning refitted family bathroom and dining kitchen, separate lounge, and large South facing garden.

If you’d like to find out how much your home is worth call smarthomes for a realistic valuation on 0121 744 4144 (option 2).
If you’re planning on moving in 2022 then click here to see why you should choose to work with smarthomes: 
https://www.smart-homes.co.uk/why-choose-smarthomes/always-choose-smarthomes
Check out the rest of our property for sale in Solihull and the local area here: 
https://www.smart-homes.co.uk/search-properties/for-sale-solihull

Article source:
 https://www.theguardian.com/money/2022/mar/02/average-uk-house-price-exceeds-260000-pounds-first-time-nationwide