Clara McDonagh, Fine & Country and The Property Concierge

The £1m+ Midlands property market is an interesting one at the moment. It would be wrong to describe it as booming, but equally, i don't believe the market is anywhere near as difficult as some of the headlines might suggest.

Buyers are still out there. What has changed is their approach. At this level, purchasers are taking more time, comparing properties carefully and expecting the price to be justified by the quality, location and overall proposition.

That is not necessarily bad news for sellers.

Fine & country's latest west midlands research shows that the market is holding firm, with transactions remaining active and prices ahead of a year ago. There is also more choice for buyers, with the number of properties available for sale up by 15% year-on-year.

For sellers, however, i believe the key message is not to underestimate the market simply because buyers are more cautious.

Our experience at the upper end is that genuinely exceptional properties can still attract considerable attention. A substantial home in a prime location, with a good plot, privacy, high specification or something architecturally distinctive, is not necessarily competing with dozens of identical properties. Scarcity remains important.

Fine & country's national research also provides an encouraging statistic for vendors:  a large number of properties that have sold and completed in 2026 did so without a price reduction. For me, this reinforces the importance of getting the pricing strategy right at launch rather than assuming that a property must be discounted to achieve a sale.

The pandemic price benchmark

One of the challenges i continue to see at the upper end of the market is that some sellers are still anchoring their expectations to the exceptional prices achieved during the pandemic years.

Those were unusual market conditions, with very strong demand for larger and lifestyle properties, limited stock and exceptionally low borrowing costs. Today's market is fundamentally different.

Buyers are now much more informed and far less willing to simply follow a price because it was achievable a few years ago. They are looking closely at comparable sales, condition, specification, location and, importantly, what else they can buy for their money. That does not mean sellers should automatically lower their expectations. It means that the price needs to be supported by today's market rather than yesterday's market.

For genuinely exceptional properties, there can still be a premium. But in today's market, that premium has to be earned.

Opportunities for buyers

For buyers, the current market provides considerably more opportunity to be selective.

Greater choice means purchasers can take their time, compare properties and, where appropriate, negotiate. This is particularly relevant at £1m+, where buyers are often making a significant lifestyle decision rather than simply purchasing a home.

However, i would caution against assuming that every property at this level represents an opportunity for a substantial discount.

The best properties remain difficult to replace. If a buyer finds the right combination of location, accommodation, land, privacy and specification, they may still need to act decisively.

Why the midlands remains attractive

The midlands also has a significant advantage that should not be overlooked: relative value.

For affluent buyers, whether moving within the region or relocating from london and the south east, the opportunity to acquire a substantial home with considerably more space, land and lifestyle for their money remains compelling.

Locations such as edgbaston, sutton coldfield, solihull, little aston and prime warwickshire continue to attract buyers who are looking for something beyond a conventional property purchase.

The £1m+ market is also far from homogeneous. A £1m modern family home, a £1.5m period residence with substantial grounds and a multimillion-pound private estate will each have very different buyer pools. This is why broad regional averages can sometimes be misleading when assessing an individual prime property.

Looking ahead

As we move towards the autumn market, my view is cautiously optimistic.

The £1m+ market has become more selective, more measured and more professional. Sellers need realistic pricing and exceptional presentation, while buyers have greater choice but should not expect quality to be heavily discounted.

Ultimately, i don't think the upper end of the midlands market is about whether buyers or sellers currently have the upper hand.

It is about whether a property is genuinely worth what is being asked – and whether it is being presented to the right buyer.

For exceptional property, there remains a market. The challenge is identifying that market, understanding where the property sits within it and making sure the right buyers know about it.

That is where experience, local knowledge and the ability to reach the right audience become particularly important.

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