1. ITV Report

HS2 having 'no effect' on Birmingham house prices

HS2 will run through Birmingham and the East Midlands Photo: HS2 Ltd

House prices in the major cities which will be linked to London by HS2 are growing in value slower than the national average.

According to new research from Groundsure, houses within 5 kilometres of the proposed Birmingham station have only risen in price by 0.8% over the last 5 years compared to a 15% average price rise along the route.

The Groundsure research compared areas close to the proposed HS2 stations with those along the rest of the route over the past five years.

Areas close to (within 5km of) the proposed stations saw a smaller price increase against a 15% average house price growth for properties not near stations.

The study claims house prices close to the HS2 route in Birmingham are growing slower in value than the national average Credit: Andrew Matthews/PA

"When starting our research, we had expected Birmingham to be one of the first cities to benefit economically with a faster connection to the capital, which is expected to be operational by 2023.

But instead, we've found that house prices near the Birmingham HS2 station have remained relatively static."

– Dan Montagnani, managing director of Groundsure