A posh town has been named among the UK's 30 areas that have experienced a drop in  house prices. Redditch, a beautiful commuter town in the  West Midlands, is the only place in the region where the property prices are down, it has been reported.  

According to the report, house prices in Redditch are down 0.8 percent as compared to last year. Redditch and its surrounding areas boast lush, affluent neighbourhoods, with easy access to both Birmingham and the scenic Worcestershire countryside, making it an appealing choice for families.  The average house price in Redditch is £239,000.

This means more affordable housing in the commuter town could make it an especially appealing option right now.

This might be an ideal opportunity to secure a property, particularly if prices rise again in the coming years.

House prices have risen across most of the Midlands over the past 12 months. In Birmingham, house prices rose by 7.2 percent, while in the Black Country, increases ranged from 3 percent to 8 percent.

Over the past year, the average home price has climbed by £16,333, reports Birmingham Live. 

According to the latest Land Registry figures, the average cost of a home in the UK reached £271,415 in the 12 months to March, marking a 6.4 percent rise compared to the previous year—equating to an extra £16,333 per property.

The steepest falls in prices were in London. Values in the City of London fell by 20.7 percent last year.

The average home there cost £905,448 in the 12 months to March. That’s a whopping £186,985 less than in the 12 months to March 2024.

In Westminster, average house prices fell by 20.1 percent to £1.1million, which is £227,050 less than a year ago.