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Birmingham-London property gap widens - see how far your money goes in the capital

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Mon 28 Sep 2015

Birmingham-London property gap widens - see how far your money goes in the capital

The vast chasm in house prices between Birmingham and London is at its widest for 20 years, according to new research.

While property prices are still to return to the pre-recession peak in Birmingham, the average cost has risen by almost 44 per cent in London.

Researchers for Hometrack’s UK Cities House Price Index claim the gap between London properties and those in other major regional cities in the UK is now at its largest for two decades.

The average property price in Birmingham is £134,800, which represents a 4.7 per cent rise compared to last year but remains 2.8 per cent below the 2007 peak.

That means homes in Birmingham are less 31 per cent of the cost of the equivalent property in the capital.

So how far does your pound stretch in Birmingham as compared to the capital? We took a look at what is on the market at the moment.

It’s fair to say this doesn’t get you far in London. You can, however, secure yourself a garage.

It’s not just any garage though, agents (yes, garages have agents in London) say it is “in an enviable location moments from Fulham Broadway”.

The single unit is ideal for either car parking or storage, they add.

However, £100,000 gets you a three-bedroom terraced house in Kingstanding, comprising two reception rooms, a kitchen, three good sized bedrooms and a family bathroom, front and rear gardens.

They even throw in some double glazing and gas central heating.

In London, £200,000 will get you a one-bedroom conversion located in the heart of Tottenham.

The property is based on the ground floor and benefits from a small garden. Estate agents say it has been recently been refurbished “to a high standard”.

In Birmingham, you can have a three-bedroom semi-detached house in Great Barr.

It boasts a long garden, refitted bathroom, good size through living room and a large conservatory

There is ample off road parking on the driveway and a good size garage.

For £300,000, you can have a generous one bedroom, first floor flat, in Camberwell.

There is a reception room “with plenty of natural light”, a fitted kitchen and shower room.

Camberwell is a popular location for its shops, restaurants and amenities and Denmark Hill Rail Station is not too far away.

You’re talking an altogether larger property in Birmingham though. Specifically, a four-bedroom semi-detached property in Acocks Green.

Not only does it have three reception rooms and all those bedrooms, it has workshops, a summer house and a giant pond.

Head to the capital and you can pick yourself up a two-bedroom first floor flat converted from a Victorian home.

The property, in Saville Road, Chiswick, has a spacious reception room, bathroom and kitchen with integrated appliances.

In Birmingham, it lands you a three-bedroom detached house in Harborne, complete with a large rear garden.

The property, on Court Oak Road, is handy for the Queen Elizabeth Medical Centre, University of Birmingham and the Harborne Leisure Centre as well as “excellent local amenities” in the High Street area, agents say.

Owners of a two bedroom ground floor apartment near Newington Green are looking for offers in excess of £500,000.

The property has an open-plan kitchen/reception room and a family bathroom “with a contemporary design”, according to estate agents, who add it offers “brilliant value for money”.

In Birmingham, you can have a six-bedroom home in Yardley.

For that, you also get yourself a study, dining room, en suite and rather nice garden.

You’re getting on for two-thirds of a million pounds now, so you can have a house in London. Although, it is a two-bedroom semi-detached one.

This property, in Whetstone, has two bathrooms, three reception rooms and a well-stocked garden, but is in need of some modernisation.

In Birmingham, you can have a seven-bedroom house on Bristol Road, Edgbaston.

A grade-II listed, three-storey, property is up for sale on the Calthorpe Estate, complete with four reception rooms, an open plan kitchen dining area and two en suite bedrooms.

And just in case you didn’t know it was a plush home, there is also a temperature-controlled walk in wine store.

A two-bedroom maisonette in Islington can be yours for £700,000.

The period conversion has two double bedrooms and a loft room which could become a third bedroom, as well as a south-facing garden and a terrace. The property comprises of a family bathroom, separate kitchen and reception room with a contemporary style throughout with period features.

Finsbury Park is located within walking distance, agents are keen to point out.

By comparison, you can have an eight-bedroom detached Edgbaston house for the same price, complete with three reception rooms, a conservatory, two en suite rooms and a patio.

£800,000 lands you a two-bedroom flat near Battersea Park in London.

Said property, near Clapham Junction, is a second-floor apartment with a well-proportioned reception room and a contemporary kitchen/diner.

By comparison, you can have a five-bedroom detached home in a sought-after part of Harborne.

The property, off Sir Richards Drive, has a music room, dining room, spacious kitchen, two en suite bathrooms and a generous garden to the rear.

“An unmodernised two bedroom fifth floor apartment, with lift, river views, balcony and secure underground parking,” that’s how agents are selling this £900,000 pad.

It does have rather nice views of the River Thames though, and is near Vauxhall station.

Travel 120 miles up the motorway, you can have a recently renovated Edwardian residence in Moseley with eight bedrooms.

The spacious period building near Moseley village benefits from accommodation over four floors.

Seven figures get you a three-bedroom terraced house in Finsbury Park, not too far from Arsenal’s Emirates Stadium.

However, agents accept the “fantastic period freehold house” was “requiring some refurbishment”. It has three reception rooms, a family kitchen breakfast room and two bathrooms as well as a garden.

In Birmingham, you can have an eight-bedroom detached house on Handsworth Wood Road with more than three acres of land thrown in.

This property has five bathrooms, three reception rooms and an in-out driveway for up to 15 cars.

By Graeme Brown   28 Sep 2015   www.birminghammail.co.uk