Top 8 Cheapest Places To Buy A House Or Flat In Birmingham in 2024

There is a wide array of affordable properties available in Birmingham, making the city a great choice for those looking to acquire an investment property or home. This West Midlands city offers cheaper property investment opportunities than London, and the vibrant city centre is facing incredible growth whilst offering plenty to encourage buyers and renters alike. Here are my top eight picks for the cheapest places to purchase a house or flat in Birmingham.

Table of Contents

Castle Vale
Handsworth
Erdington
Smethwick
Digbeth
Edgbaston
Mosely
Wylde Green

Castle Vale

Castle Vale was once home to a large post-war housing estate and has been extensively regenerated over the years with old tower blocks being torn down and replaced with smaller apartment blocks and housing. Significant investment was also made for the provision of green spades and arts initiatives such as Spitfire Island, named for the area’s rich aviation history and home to several public art pieces. Castle Vale has come on leaps and bounds in the past 40 years and is quickly becoming an increasingly desirable location. According to Zoopla, flats in Castle Vale went for as little as £93,500, semi-detached houses sell for around £181,125, and detached properties sell for an average of £165,500.

Average rental yield: 6%

Average property price: £161,528

Handsworth

Inner-city Handsworth is as close as can be to the city centre and has an eclectic mix of architecture from period to modern styles. Although it has had a troubled past with high rates of anti-social behaviour, neighbourhood schemes and community-led initiatives are improving these figures. The picturesque Handsworth Park has 65 acres of gentle grassy slopes, as well as a boating lake. On average over the last 12 months, the sold price for a property in Handsworth was £198,486. Flats were sold for as low as £89,643, and terraced properties sold for about £169,482.

Average rental yield: 6.3%

Average property price: £198,486

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Erdington

The perfect place for students, families and working professionals alike, Erdington is well-connected with good transport links – you can be in the city centre in 12 minutes. Erdington has its own thriving local high street which is in the process of ongoing regeneration, as well as a great music scene. Erdington boasts a £7.5 million leisure centre and local landmark Fort Dunlop tyre factory is home to an office and retail space, including major shopping destination Fort Shopping Park. Average house prices are £198,648, and there are plenty of options available.

Average rental yield: 4.5%

Average property price: £198,648

Smethwick

Smethwick is a few miles outside of Birmingham but has good transport links via train and bus to Birmingham city centre and Wolverhampton. This industrial town was home to one of the biggest bicycle manufacturers in the world in their heyday and remains a bustling town full of shops, cafes, bars and restaurants. Smethwick is well-suited for young professionals and families wishing for urban amenities but still wanting to retain the quieter lifestyle offered by a small town. House prices in Smethwick average out at about £194,271, according to data from last year.

Average rental yield: 5.73%

Average property price: £238,919

Digbeth

This former industrial area is now a thriving inner-city hub with a vibrant and eclectic arts scene that young creative types flock to, with former factories including Bird’s Custard Factory lovingly restored to house a variety of digital and creative businesses. Championed as the ‘Coolest Neighbourhood in Britain by the Sunday Times, there are plenty of trendy independent venues and quirky shops to explore, not to mention the world-famous MADE Festival. With innovative architecture, good travel links and placement close to the Birmingham City Centre, Digbeth is a great option for purchasing property. According to Rightmove data, sold prices in Digbeth were 4% lower than last year, making it a great time to jump on the property investment opportunities the area has to offer. The average price of a property in Digbeth is £260,902, although prices can start as low as £70,000 for flats.

Average rental yield: 6.8%

Average property price: £240,390

Edgbaston

Edgbaston has a lot to offer – it is home to a cricket stadium, the University of Birmingham, and Birmingham Botanical Gardens. Edgbaston has its own train station and it takes just 5 minutes to get to the centre of Birmingham. Investors looking to rent out student properties are in luck, as the university welcomes 38,000 students per year. In addition to this, Edgbaston is home to the oldest lawn tennis club in the world. This vibrant and busy suburb has sold flats over the past year for £209,083, forming the majority of sold properties.

Average rental yield: 5.3%

Average property price: £306,970

Moseley

Moseley boasts plenty of green spaces, making it an attractive place for young families and professionals alike. It’s further out from the City Centre, meaning it’s a quieter option than the city centre but with plenty of amenities and attractions right on the doorstep. Moseley is a popular cosmopolitan residential location, prided for being a leisure destination featuring plenty of hip bars and restaurants. During the last year, the majority of sales were for terraced properties, which sold for an average price of £265,059. Similarly, flats were sold for an average price of £178,896 – and semi-detached properties went for as little as £396,056.

Average rental yield: 6.2%

Average property price: £312,954

Wylde Green

Located within the affluent area of Sutton Coldfield, the working-class suburb of Wylde Green is ideal for those wanting to gain a foothold in this well-to-do neighbourhood for a relatively cheap price. Wylde Green is well-connected by road and rail to Birmingham and also boasts Walmley Golf Club, plus an array of other amenities such as gyms, cafes and restaurants. Over the last year, properties situated in Wylde Green had an average price of £332,086. This period also saw flats selling for the average price of £150,506, detached properties selling for an average of £550,766 and semi-detached properties selling for around £348,499. Wylde Green is very tempting to the would-be investor, bearing in mind the average house price in Sutton Coldfield is around £403,860.

Average rental yield: 5%

Average property price: £322,086

To conclude, Birmingham is a great choice when looking to invest in property or buy a home. Whether you’re looking for an investment property, such as student housing or rental developments, or a base for yourself and family members, there are plenty of affordable options.