A lot can happen in a decade — looking back 10 years at the Solihull Property Market

Doesn't time fly? I was only saying to my partner the other day, whilst looking over old photos, how time does literally fly by. It doesn't seem like two minutes since we were taking the Christmas Decorations off the tree and now the shops are full of Christmas Trees again… so soon! The years add up and sometimes, it’s just good to take stock of what has happened and where we have got to in life.

In today’s article, I want you to go back ten years. Why ten years?  Well, it’s quite an important birthday for me and the team in Solihull which will tell you about that a little later. So with that in mind, as my regular readers will know, my real passion is everything to do with the Solihull property market, so let’s take a step back ten years and see what has happened to the Solihull property market...

• 3,652 days or ten years is a long time in anyone’s books, especially in the property market. So this is what has happened in Solihull over the last ten years...
•  The population of Solihull has increased by 6,908, there are now 205,087 people living in the Solihull area.
• The value of an average detached house in Solihull has risen from £368,917 to £399,964, a rise of £31,047
•  Roll the clock back 10 years, and 6,288 people lived in 2,951 rental properties in Solihull. Now, there are 18,045 people living in 7,795 rental properties
• The value of an average semi detached house in Solihull has risen from £191 347 to £207,450 an increase of £16,103 increase
• Despite the increase in renting, the number of people who own their own home in the Solihull area has hardly changed. Go back ten years and 63,586 properties were owner occupied. Ten years later and that figure has hardly changed at 63,559
•  The value of an average terraced / town house in Solihull has risen from £139,133 to £150,843 an increase of £11,710
• 30,558 properties have sold and changed hands in Solihull over the last ten years
• The value of an average apartment / flat in Solihull has risen from £130,021 to £140,963 a rise of £10,942
•  Under the ‘Right To Buy’ scheme, exactly 800 Solihull Council tenants bought their own Council House
• 5,126 new properties have been built in Solihul
•  Have you noticed less for sale boards? Less people are moving In Solihull.  Ten years ago, 4,160 properties sold in Solihull area in one year. In the last twelve months only 3,237 properties have sold, meaning there has been a drop 22.18% in the number of properties sold.

... and one final thing, our Chairman James, and old school pal Shane Bland started a property management business soon to be joined by Carina and Centrick Property was born.  James worked in the automotive industry, but always had a passion for property. Ten years later, that newly established agency has grown into Centrick Property group; with offices in central Birmingham, Nottingham, Solihull and London.  James, Carina and Shane run the firm as an extended family:  we care, we are friendly and what’s more we are efficient and always strive to be professional.  Over the last decade, we have been selling, renting and managing residential and commercial property, finding tenants for landlords, looking after purchasers and vendors alike.  Currently looking after over one billion pounds worth of client assets, we must be doing something right, we are all very proud to be part of such a successful and caring business.

So, I hope you can join me in celebrating with James, Carina, Shane and all the Centrick Property family in our 10^th Birthday celebrations, as most of you reading this will know, running your own business is one of the hardest, yet fulfilling things you will ever do and to still be successful after 10 years is an incredible achievement.. here’s to the next 10 years !!!