Birmingham homeowners are feeling the pinch as property prices have tumbled in some areas, with Moseley residents seeing £31,000 wiped off the value of their homes in just one year!

But this could be good news for first-time buyers looking to get on the property ladder, with some bargains to be had across the West Midlands. New data shows that while house prices have risen in many areas, some parts of Birmingham and the Black Country have seen significant drops.

The biggest loser was Moseley, where average prices plunged from £337,000 to £306,000 in the year to May 2024. Ouch!

But it’s not just Moseley feeling the heat. Homeowners in other areas are also experiencing the downturn:

• Central Wolverhampton: Prices down £20,000
• Wednesfield: Prices down £19,000
• Rushall, Walsall: Prices down £18,000

Don’t panic just yet, though. These figures are based on the average sale prices over the past year, and a surge or dip in the number of sales can skew the figures. But it’s definitely something to keep an eye on!

Here’s a full list of the areas where house prices have fallen:

Birmingham:

• B13 Moseley: £337,000 to £306,000 (-£31,000)
• B15 Edgbaston: £421,000 to £410,000 (-£11,000)
• B16 Edgbaston: £259,000 to £254,000 (-£5,000)
• B21 Handsworth: £187,000 to £174,000 (-£13,000)
• B26 Sheldon: £235,000 to £226,000 (-£9,000)
• B31 Northfield: £235,000 to £232,000 (-£3,000)
• B33 Kitts Green: £201,000 to £196,000 (-£5,000)
• B38 Kings Norton: £259,000 to £240,000 (-£19,000)
• B64 Cradley Heath: £208,000 to £206,000 (-£2,000)
• B66 Smethwick: £181,000 to £167,000 (-£14,000)
• B71 West Bromwich: £221,000 to £213,000 (-£8,000)

Black Country:

• DY1 Dudley: £219,000 to £205,000 (-£14,000)
• DY2 Dudley: £188,000 to £185,000 (-£3,000)
• DY4 Tipton: £183,000 to £177,000 (-£6,000)
• WS10 Wednesbury: £192,000 to £188,000 (-£4,000)
• WS2 Pleck, Walsall: £170,000 to £163,000 (-£7,000)
• WS4 Rushall, Walsall: £242,000 to £224,000 (-£18,000)
• WS5 Bescot, Walsall: £341,000 to £333,000 (-£8,000)
• WV1 Wolverhampton: £169,000 to £149,000 (-£20,000)
• WV2 Wolverhampton: £180,000 to £172,000 (-£8,000)
• WV11 Wolverhampton: £234,000 to £215,000 (-£19,000)

So, is it time to bag yourself a bargain in the West Midlands? Keep your eyes peeled!