HomeABOUTONLINEIs Coventry properties worth investing in? KW January 11, 2018 ONLINE Is buying a property in Coventry really worth it? Coventry’s housing market has had a rapid increase in the number of years, with the recent high demand for properties becoming more and more appealing to people wanting to buy to let houses in the city. In February 2017, house prices in areas such as CV1 has risen by 14 per cent according to FosterLewis&Co, with houses averaging up to £146,000 in Holyhead Road, Spon End and roads neighbouring the Central Six Retail Park. The CV1 postcode map (Image: Handout publicity picture) Within CV1 and other area postcodes surrounding the city centre, people renting out houses in Coventry are heavily reliant on students, seeing that the city has a large percentage of them living in these properties. With more students inevitably coming to Coventry in the next few years, there could be a huge interest from landlords from other UK cities to invest in more properties within and around the city centre. To find out about their interest in renting houses in Coventry, we spoke to two landlords who currently rent out properties in London: According to Home.co.uk, the demand for rental properties has risen in the last few months, and with an expected further increase in rental prices being prompted, landlords could face some difficulty finding cheap rental properties in the next few years. The number of students in Coventry is growing each year, and with developments in more student accommodations underway, this may cause a decline in the housing market for ‘buy to let’ landlords. However, for landlords from bigger cities interested in buying and letting properties in Coventry, prices are relatively reasonable with the most expensive area being Canon Par, where there average property price estimates at £507,000 Map of Coventry’s average property prices (Image: Handout publicity picture) The price of properties within areas in and around Coventry’s city centre ranges from £150,000 to £300,000 according to Plumpot.com. This serves well for Coventry’s housing market, as the average price percentage change sits at 4% and the average price change currently at £8.8k. Boding well for ‘buy to let’ landlords with an interest in properties in the city centre. With recent reports in November 2017, the government have approved long term housing plan to build more than 40,000 new homes in Coventry, giving an oppurtunity for landlords to invest in new properties, which would be demanded on a greater scale. Although, more than 33% of houses won’t be able to fit inside Coventry’s boundaries, meaning the council would have to command a large amount of money to free up space for these new properties. Local plans such as 25,000 new homes potentially being built within the boundary and nine tenths of green spaces and green belt land being redeveloped for the city’s urban extension programme, are yet to be anticipated. Meaning that more time for a higher percentage of ‘buy to let’ landlords, would have to wait to invest in the city’s housing market. By Kadeem Whynn Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Google+ (Opens in new window) Related Leave a Reply Cancel Reply Your email address will not be published.CommentName* Email* Website Notify me of follow-up comments by email. Notify me of new posts by email.