West Midlands house price growth exceeds UK average

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The rise of flourishing new job sectors, including the arts and science and technology, is leading to an increase in housing demand in the West Midlands.

Property consultancy Knight Frank says that over the last five years house price growth in the region has outpaced the rest of the UK, as new employment opportunities drive demand for new homes.

New sectors are set to power the region’s economy over the next decade as the West Midlands moves away from its traditional manufacturing heritage and attracts new employers.

Jobs in the arts, entertainment and recreation are set to grow 21 per cent by 2030, while those in professional services, science and tech will rise 10 per cent, according to Knight Frank analysis of Oxford Economics data. In contrast, the region’s manufacturing sector is forecast to decline by 17 per cent across the same period.

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West Midlands house price growth exceeds UK average

The rise of flourishing new job sectors, including the arts and science and technology, is leading to an increase in housing demand in the West Midlands.

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