West Midlands' cheapest postcodes to buy a home revealed in new 2024 list

The cheapest and most expensive postcodes to buy a home in Birmingham and the Black Country have been revealed. It comes as the average UK house price slightly fell by £2,000 in 2024 compared to 2023 - as the UK battles a "chronic housing shortage".

Amid ongoing inflation, it's difficult for first-time buyers to find an affordable and reasonable mortgage. The region's cheapest and most expensive postcodes were revealed in the House Postcode Report, created by Online Marketing Surgery and Cardinal Steels. Property prices were calculated from January 2023 to January 2024, using HM Land Registry data.

It revealed Birmingham's cheapest area was the inner-city B6 postcode of Aston, just north of the city centre. Here, the average home costs £153,314.

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At the other end of the spectrum was the affluent B74 postcode in Four Oaks, Sutton Coldfield. Here, house prices were the most expensive in Birmingham, costing £504,166.

In the Black Country, the cheapest postcode was WV1, covering Wolverhampton city centre, where the average home costs £159,286. And the most expensive postcode in the region was the leafy DY7 postcode in Kinver, just over in the South Staffordshire border, where prices cost £435,702.

It comes as the government's House Price Index revealed the average UK home cost £282,000 in January 2024, which was £2,000 down from January 2023. In England, prices on average fell by 1.5% to £299,000 in January 2024 from the previous 12 months.

In Wales, prices dropped by 0.8% to £213,000 in January 2024 over the same period. But in Scotland, the nation bucked the trend as prices rose by 4.8% to £190,000 in January. Meanwhile, the thinktank Centre for Cities says the UK faces a "chronic housing shortage", as the Government falls below its house-building targets.

Top 10 cheapest Black Country postcodes for house prices

*Area - average house price (January 2023 to 2024)

1. Wolverhampton City Centre (WV1) - £159,286

2. Pleck (WS2) - £161,865

3. Smethwick (B66) - £167,320

4. Walsall town centre (WS1) - £175,941

5. All Saints (WV2) - £177,545

6. Wednesbury (WS10) - £183,352

7. Shepwell Green (WV13) - £184,671

8. Bradley (WV14) - £186,338

9. Dudley (DY2) - £187,913

10. Tipton (DY4) - £188,773

Top 10 most expensive Black Country postcodes for house prices

*Area - average house price (January 2023 to 2024)

1. Kinver (DY7) - £435,702

2. Wombourne (WV5) - £375,000

3. Lye (DY9) - £369,531

4. Bescot (WS5) - £318,643

5. Albrighton (WV7) - £313,122

6. Codsall (WV8) - £311,222

7. Aldridge (WS9) - £299,877

8. Whitmore Reans (WV6) - £296,239

9. Halesowen (B62) - £294,552

10. Stourbridge (DY8) - £288,612

Top 10 cheapest Birmingham postcodes for house prices

*Area - average house price (January 2023 to 2024)

1. Aston (B6) - £153,314

2. Castle Vale (B35) - £165,658

3. Washwood Heath (B8) - £170,370

4. Lozells (B19) - £171,927

5. Nechells (B7) - £176,570

6. Handsworth (B21) - £178,324

7. Winson Green (B18) - £178,665

8. Bordesley Green (B9) - £179,801

9. Small Heath (B10) - £179,861

10. Sparkhill (B11) - £180,743

Top 10 most expensive Birmingham postcodes for house prices

*Area - average house price (January 2023 to 2024)

1. Four Oaks (B74) - £504,166

2. Alvechurch (B48) - £430,892

3. Sutton Trinity (B75) - £410,691

4. Hollywood (B47) - £391,513

5. Sutton Coldfield town centre (B72) - £357,259

6. Harborne (B17) - £355,992

7. Boldmere (B73) - £353,998

8. Moseley (B13) - £332,120

9. Edgbaston (B15 + B16) - £329,892

10. Walmley (B76) - £323,576