Erdington has some of the most affordable properties in the Area

A landlord came in to our office earlier this week to discuss the affordability of property in Erdington, with the current national market property market being in recovery with increasing house prices. The best advice I can give to those looking to invest in property is our secret trick of the trade. You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is. When we put this to the test, we found that Erdington currently has an average property value of around £126,000 with the average salary being £19,163. This is a respectable ratio of 1 to 6.58. Meanwhile in Sutton Coldfield the ratio of property values to salary is upward of 1 to 7.2, with Four Oaks being 1 to 9.60. This suggests the property in Four Oaks is less affordable for the average inhabitant than in Erdington. We also had a look at Great Barr and found the average salary is £18,864 and the average property value is £125,900. This means that property in Great Barr is more affordable than Sutton Coldfield, with a ratio of 1 to 6.7. This confirms expectations people have when purchasing properties in this areas. Sutton Coldfield with higher average earnings going hand in hand with higher property prices. For the Landlord buying a property in Erdington was the best option. For the average buyer, however, their considerations would be highly focused on amenities, schools, shops and standard of living.

Figures indicate it is a good time to invest in the area, property prices may continue to increase and therefore picking up a good deal now whilst income to value ratios are reasonable. If you would like to talk to us about your potential investment, please come into our office on the Birmingham Road or call 0121 321 6090. For more articles visit our blog suttoncoldfieldproperty.blogspot.co.uk