According to Knight Frank’s House Building Report 2018, the West Midlands, the South East and outer London offer the best potential for builders over the next three years. Although only 1% of builders think the Government’s target of 300,000 new homes a year by 2022 is achievable.
The report also states that house prices have seen a more even spread of growth across the country, a move away from the trend over the last few years of prices increasing mainly in London and the South East. This reflects the economic recovery outside of the capital, with Government data showing that house prices in Birmingham and Manchester over the last 18 months have reached highs not seen since before the global financial crisis.
Jamie Smart, Director of smarthomes commented, “We have seen for ourselves the prices increasing in the West Midlands area, particularly in Solihull where there is a huge demand for homes in the popular school catchment areas. Sellers are spoilt for choice as we could sell a home many times over and we look forward to new build properties coming onto the market to ease the pressure.”