Where city life meets country life and everything in between – Coventry really is a special place to live.
Where city life meets country life and everything in between – Coventry really is a special place to live.
The average property prices in Coventry are between £303,345 for a detached property and £102,056 for a flat. With the average property price increase of 5% this year, making Coventry a great place to invest.
Coventry has a population of 337,400, an average income of £28,000 and is well connected, within 31 minutes from Birmingham and 1 hour from London.
The face of the city has changed dramatically in recent times with major developments creating a vibrant and contemporary city to live in.
A new £59m central business quarter has recently been completed and there is a £100m city centre project planned for the near future. This new development will incorporate new shops, hotels, apartments and a greatly enhanced public space for pedestrian traffic. This is great news for those looking to move to the area, particularly for those looking for the city lifestyle.
The city centre itself is mainly pedestrianised with the well renowned Coventry covered market situated in the heart of the city providing a unique shopping experience.
James Pearson, Coventry’s local director, says, ‘The city has a variety of different house styles; from young, working professionals looking for 1 and 2 bedroom apartments prices start at around £100,000 rising to £200,000 in the new Electric Wharf area.’
Terraced properties in the city start from around £90,000 with plenty of opportunities for the shrewd property investor.
Further afield in the Radford and Tile Hill areas families looking for a detached property should expect to pay from £280,000. The exclusive Kenilworth Road/Gibbet Hill locations can command £900,000.
Across the city the average sale price of a house is now £171,447, representing a rise of 5% during the last year.
The city is surrounded by the West Midlands Green Belt, with towns such as Kenilworth, Nuneaton, Warwick and Leamington Spa all nearby making it the perfect location to be based for the hustle and bustle of city life but with the peace and tranquillity of the Warwickshire countryside only a short drive away.
Wendy Williams our Lettings Negotiator states, ‘Due to good business and transport links in Coventry there is a strong private rental sector with rental prices starting from £600pcm, for this you can expect to get a good sized 1 bedroom apartment in the heart of the city.
For families looking for a larger space, a 3 bedroom property will cost around £950pcm or if you look further afield to surrounding suburban areas prices can reach £1500.’
Some of the most sought after properties are the 2 and 3 bedroom houses, with demand outstripping supply, making Coventry a strong proposal for any property investor.
Going to university- The student market also continues to grow with exceptionally high demand due to the two local universities of Coventry and Warwick.
Coventry University provides expertise in engineering and design and has recently been placed number 23 in the country by the Times Higher Education magazine’s ‘table of tables’ for UK universities, while the University of Warwick, an esteemed Russell Group university, is one of the top universities in the world with its highly respected business school.
Secondary schools- Many of the secondary schools in and around the city are specialist colleges, including a mathematics and IT college, a sports college, a teacher training college and a music college. There are two independent schools; King Henry VIII School and Bablake School. Houses in the catchment area for these particular schools are in high demand.
Many residents of Coventry commute into the larger city of Birmingham to work. The main Coventry railway station is located just off the city centre and commuters can be in Birmingham New Street within 20 minutes.
London can be accessed via the railway in just over an hour; this could be greatly reduced with the introduction of HS2 into Birmingham.
Buses run frequently in and out of the city to the various residential areas and a whole host of the classic London taxis providing readily accessible transport for the city’s residents.
In addition to the rail and bus services the city is also in close proximity to major road links including the M6, M45 and M40; with the Catthorpe A14/M6/M1 junction due to be complete in Autumn 2016 this will provide ready access across to the East Midlands.
Only 11 miles away is Birmingham International Airport and Coventry airport is located 5 miles out of the city centre.
* Rightmove stats, October 2015