Birmingham has topped the list of most valuable areas of the UK property market outside of London, followed by Edinburgh and Leeds.
With 441,536 properties and an average house price of £189,988 ($251,477), Birmingham is home to a property market worth £83.9bn, according to data compiled by GetAgent, an estate agent comparison website.
It analysed estimated dwelling stock figures from Gov.uk and the current average house price by local authority to see which areas are the most valuable from a property point of view.
Edinburgh ranks as the second most valuable market outside London, with the property market worth an estimated £70.6bn.
Leeds was in third place (£69.1bn), with Cornwall, Wiltshire, Bristol, Bournemouth Christchurch and Poole, Brighton and Hove, Glasgow, Manchester and Sheffield also ranking as some of the most valuable property markets outside London.
“We’re used to hearing about how expensive certain parts of the UK property market are but when you consider price in relation to the volume of housing stock, it really highlights how valuable the UK property market is as a whole,” said GetAgent’s founder and CEO, Colby Short.
“With prices continuing to climb as a result of a stamp duty holiday saving we should see the UK property market grow even further in value over the coming months. While some areas will always command a higher price tag, they will also continue to play second fiddle to those with a greater abundance of stock where overall value is concerned,” he added.
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