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How much will you pay for a house for sale in Coventry?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ How much will you pay for a house for sale in Coventry?

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Coventry, Warwickshire.

From the average asking price of houses for sale in Coventry to the growth of the population in the area, all will be talked about regarding the city of Coventry. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

Asking price in Coventry for a house for sale

Average asking prices for houses for sale in Coventry

Average asking price (1 bed) £127,077
Average asking price (2 bed) £198,259
Average asking price (3 bed) £267,804
Average asking price (4 bed) £367,679
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Coventry is £0. This should show you the general prices overall and for individual types of houses too.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Coventry is £261,577.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Coventry is useful when negotiating and knowing what to expect for every type of house for sale.

How are rental yields of the houses for sale different to the rest of the UK in Coventry?

What is the growth in the housing market of Coventry?

Before committing to Coventry to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Coventry growth rate 4% -4% 11%

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Coventry is building housing to find your answer.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Coventry. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Coventry.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Warwickshire), a regional level (West Midlands) and finally on the level of the city talked about in this article, Coventry.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Coventry 4.7% £946 43% 12.5%
Warwickshire 3.64% £986 113.00% 18.57%
West Midlands 3.89% £877 119.29% 20.00%

You may also find it useful to compare the data above to the number of properties sold per month Coventry experiences. This figure for house sales per month is 23. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

In Coventry, what are the demographics like?

In the city of Coventry, has the population grown or shrunk?

Population growth in Coventry is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Coventry, 47,684 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Coventry in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Coventry, this change has been 9%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 9%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Coventry?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 16% in Coventry.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

Is the crime rate bad in the city of Coventry?

For every one thousand people living in Coventry, 188 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of 188 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

In Coventry, how educated are people in general?

The number of people as a percentage who have been through university and gained a degree is 27%. The ability to buy a home is greatly influenced by the number of people who have degrees. £38,550 is the amount people in Coventry are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Coventry, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

How much do people in Coventry earn?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£38,550 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 21% for Coventry.

Coventry in the county of Warwickshire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Coventry is located in; West Midlands.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Coventry, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

In Coventry, what are the deprivation levels like?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Coventry, in particular, the deprivation levels are 26%.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

In the city of Coventry, how much green space remains for residents?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Coventry, 12.4 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Coventry.

In Coventry, what is the social grade score?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Coventry compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Coventry, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 21%.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

In Coventry, what do houses for sale tend to sell for?

In Coventry, houses for sale are sold at an average of £228,141. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Coventry. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £409,137
Aerage sold price (semi-detached) £226,545
Aerage sold price (terraced) £182,344
Aerage sold price (flat) £149,080

As you can see above, for Coventry, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 16% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £2,565
Aerage sold price/sqft (new build) £3,005
Aerage sold price/sqft (old stock) £2,395

Looking at the second table about Coventry, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Coventry is £2,565.

Who can help you buy a house for sale in Coventry?

Choose the right house for sale that suits your needs

When browsing houses for sale in Coventry you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Are you considering other cities with houses for sale?

See here below a list of cities in the same UK region of Coventry which is West Midlands. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

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