It is seen as a prime location for investors and an up-and-coming district on the edge of Birmingham. Emma Pinch visits Bearwood.

As house prices in Harborne increasingly put family-sized properties out of reach for many, nearby Bearwood, with its solid Victorian terraces, good city access and busy high street, has become a popular alternative.

Houses in Bearwood go for at least £60,000 less than their near identical Harborne counterparts and investors are snapping up properties just outside the area as well for their excellent leasing value.

Most people know Bearwood for its shopping. It has a long and thriving high street along Bearwood Road and intersecting Sandon Road, leading through to Smethwick and, at the top end, joins the Hagley Road – one of the main routes into Birmingham from the M5 at junction three.

The high street, just four miles from the city centre, is similar in many respects to that of Kings Heath in south Birmingham, surrounded as it is by Victorian terraces and something of an overspill from the more pricey Moseley.

Multi-cultural and home to almost every sort of shop, from electrical emporiums to card outlets – of which there are a surprising number – along with a plethora of discount stores, kebab shops, plus a pool hall and an indoor market. There are large Aldi and Somerfield shops for grocery shopping, along with most of the major banks, travel agents, plus a Woolworths.

The number of estate agents flourishing here is some clue to the growing desirability of the area among young professionals, as are the number of more up-market bars and cafes, such as Attica, with its pavement-front tables and live music.

Lightwoods Park, with its bandstand, mature trees and water fountain, stands at one end of the high street, with the delightful Warley Park, known as Warley Woods, at the other.

Properties set back from the high street, particularly those like Lightwoods Road, flanking the park, are the most desirable, solid affairs in brick with poplars and cherry trees softening the streets.

A standard three-bedroom terraced property on Lightwoods Road was sold for £184,000 at Dixons Countrywide estate agents recently, but there are still cheaper options to snap up, according to one estate agent.

"If you can't afford to buy or rent in Harborne then you come to Bearwood," says John Chant, senior negotiator at Dixons in Bearwood. "The main attraction is the high street.

"Secondly you are just off the Hagley Road and there is talk of a new tram system, which makes it even more attractive to buy in Bearwood, as travel time to the city centre would be cut to 16 minutes from 34 minutes.

"It is still fairly expensive for first time buyers – with properties going for between £160,000 to £170,000, the norm seems to be second time buyers or a couple with decent-paying jobs. It's also popular with nurses and junior consultants because it is five minutes from City Hospital and from the QE Hospital."

The district falls within Sandwell local authority, which means wheelie bins, slightly lower council tax than Birmingham, and the abolition of stamp duty in some areas.

"Smethwick and Sandwell received a huge grant from the EU about three years ago, and because Oldbury and Dudley have quite an industrial image, to get buyers back, a lot of areas in Sandwell are exempt from stamp duty," adds John.

Investors are showing a keen interest in the area, particular in keen expectation of a new tram system to Snow Hill.

"For investors and private families, the rental you can command is a lot more than in Smethwick and Edgbaston.

"In the Bearwood triangle – between Linden Road, Merivale Road and Marlborough Road – you can still get properties for fantastic value, for £125,000 upwards, because even though it is not Bearwood, it is the next best thing."

He said another development making prices escalate in Bearwood was a recent change to the postcode system which slashed the number of streets to technically fall in the area.

"There are only seven roads left in Bearwood proper. That is one of the reasons prices have shot up, with many of the surrounding roads being absorbed into Oldbury and Smethwick. Our offices, in Poplar Road, are now technically in Smethwick, and I can see Bearwood and Oldbury from our windows.

"A year ago in Thimblemill Road, one of the largest in Bearwood, residents mounted a petition to prevent their addresses taking on a Smethwick postcode," said John. "Bearwood is more desirable, because the postcode affects insurance and so on, because there are more claims in Smethwick."

However, the schools still exert a pull for young families.

"Lightwoods and Abbey Road junior schools are both very popular because of their excellent results. People don't care where their house is if they can get their children into Lightwoods."