Key indicators for buyers
The W15 market is moderately favourable for buyers. Prices are rising at 107.4%, which may favour acting sooner rather than later. Affordability has improved from a peak of 8.0x in 2022 to 6.3x today. Rising rents (£837/mo, +4.8%) mean the cost of waiting is real.
Yearly averages · HM Land Registry Price Paid Data
The average property in W15 sold for £560,000 in 2009, with a median of £560,000 across 1 transactions. Prices rose 107.4% compared to the previous year.
2009averages · HM Land Registry Price Paid Data
House price ÷ median earnings · ONS data
Affordability data shown for wider Cannock Chase area
A home in Cannock Chase costs 6.3x the local median salary — moderate, improving from a peak of 8.0x in 2022.
Average monthly rent · ONS Private Rental Index
Rental data shown for wider Cannock Chase area
Average monthly rent in Cannock Chase is £837, up 4.8% year-on-year. Rents have risen consistently over the past five years.
2yr fixed · 75% LTV · 25yr term · BoE avg. rate
Based on the average Cannock Chase price of £560,000 with a 25% deposit (£140k), a 2-year fixed mortgage at 3.97% costs around £2,210 per month.
Monthly cost comparison based on current data
Uses W15 avg. price with Cannock Chase rental data
Monthly mortgage payments (£2,210) are £1,373 more than renting (£837). However, buying requires an upfront deposit of £140k — it would take around 11667 years to recoup that cost compared to renting and investing the difference.
Latest transactions · HM Land Registry Price Paid Data
| Address | Type | Price | Date |
|---|---|---|---|
LADYHILL COTTAGE, PENKRIDGE BANK ROAD W15 2UE | Detached | £560,000 | 8 Apr 2009 |
LADYHILL COTTAGE, PENKRIDGE BANK ROAD, RUGELEY W15 2UE | Detached | £270,000 | 9 Jan 2004 |
The most recent recorded sale in W15 was a detached property on Penkridge Bank Road for £560,000 in April 2009. Across the last 2 sales, the median price was £560,000.
Data sources (all free & public): HM Land Registry Price Paid Data & UK House Price Index · ONS Housing Affordability Ratios · ONS Private Rental Index · Bank of England Quoted Household Interest Rates · HMRC Monthly Property Transactions
Contains HM Land Registry data © Crown copyright and database right 2021. This data is licensed under the Open Government Licence v3.0.