Is Now The Right Time To Sell My House In Coventry
With a strong student population, and home to both Jaguar Land Rover and the fastest growing railway station outside of London, Coventry is an excellent choice when it comes to investing in property. It’s attraction to investors means that selling a house in Coventry can be easy.
The twelfth largest city in England, boasting a population of around 377,000, Coventry is projected to reach 417,000 in the next decade. Because it is considered one of the fastest expanding cities in the country, there is fast turnover in regards to selling or buying a house.
Job Opportunities
When buying property, a good investor will always take note of job demand. Already home to the renowned Jaguar Land Rover company, which, in itself, supports a significant number of jobs, Coventry will also be home to the UK Battery Industrialisation Centre (UKBIC). This alone is expected to create thousands of new job opportunities when it runs at full capacity.
The city will also be experiencing a multi-million-pound regeneration and development, with one of these projects being The Coventry Gateway scheme. This project will develop warehousing and industrial units, and is predicted to provide up to 14,000 additional jobs.
Location
With Coventry being located in the centre of the UK, castles and top tourist attractions are within easy reach. Fancy a visit to London? Only a quick, one-hour train ride away. Birmingham commuter? Get there in a little over 20 minutes by fast train. The Coventry Very Light Rail system, boasted to be futuristic and the first of its kind, is proposed to be operational by 2024 and promises to transform transportation around town. With the CVLR, transportation options will be endless.
Tourism and Attractions
As mentioned before, Coventry is surrounded by tourist attractions. From medieval castles and cathedrals to Shakespeare’s hometown of Stratford, there are no shortages of attractions to visit.
The anticipated and newest attraction, The Wave Water Park recently opened to the public on October 21st of 2020. But the ever ambitious city is not stopping there; in 2021, it will be the UK City of Culture and host art and cultural events. Based on what has happened to other cities that have been the UK City of Culture, it is expected to receive around 2.5 million visitors and positively impact the city’s cultural and economic benefits.
Student Accommodation and Renting in Coventry
A major university centre, with nearly 54,000 students from Coventry University and the University of Warwick combined; Coventry has a large market for student accommodations. The strong student population and demand for rental properties makes Coventry an attractive area for investment in buy-to-let properties.
On average, a three-bedroom buy-to-let can gather over £1000, while a one-bedroom house can earn around £500 per calendar month. Some of the popular student buy-to-let properties can be found in City Centre, Stoke and Canley.
Why are so many investing in Coventry?
Job creation, location, and student population make Coventry a very attractive city for investors. With property prices starting at £60,000 and averaging around £190,000, it is a popular city for first-time buyers as well as one of the fastest places to sell a house.
It is an exciting time for Coventry, and an excellent time to buy and sell.
Coventry Property Stats
- The average price for a house in Coventry is £190,000
- Some of the more expensive areas, such as Cryfield Heights, have an average house price of £690,000
- Coventry City Centre, a hot spot for student accommodations, has an average house price of £150,000
- Investors can earn rental yields of up to 5.9%
