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A guide on houses for sale in Coventry

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in West Midlands $ A guide on houses for sale in Coventry

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Coventry might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Warwickshire.
Before looking for a house for sale in the city of Coventry we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Coventry.

House for sale in a different UK region

You can consult our list below that goes over a list of cities not necessarily in West Midlands, allowing you to find similar places to Coventry:

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

In general, for the city of Coventry, what are the final purchase prices for the houses for sale?

As well as looking at the asking price for house for sale in Coventry, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Coventry.

Houses for sale, are sold on average in Coventry, after the influence of these factors, at £228,141 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 16% over the last 10 years.

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

This table above shows the average sale price for each variation of houses for sale in Coventry.

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

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Coventry is £2,565.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

In Coventry, what are the rental yields?

Are there new houses being built in Coventry to make it grow?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Coventry that shows the growth in recent years.

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

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Coventry is important.

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 £0 £946 £0 £0
Warwickshire 3.64% £985.79 113.00% 18.57%
West Midlands 0.04 876.64 £1 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 14. 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.

What are the people like in Coventry?

Located in Warwickshire is the city of Coventry, in a large part of the UK; West Midlands. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Coventry has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Coventry which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

What is the city of Coventry’s social grade score?

In the city of Coventry, the social grade score of the area is 21%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Coventry.

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

For the city of Coventry, what is the education level?

Interestingly, the percentage of people who have a degree in the city of Coventry is 27%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Coventry is £38,550.00.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

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

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Coventry, the city has 12 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Coventry.

Are the people in Coventry earning a lot?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £38,550.00.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Coventry this figure is 21%.

What’s crime like in Coventry?

Within Coventry, the number of people committing crimes is 18750% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 18750% figure carefully.

In Coventry, how has the population changed?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Coventry is 47684.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Coventry.

In Coventry, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 9%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Coventry is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (9%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Coventry population difference over 10 years?

The population has adjusted in the area of Coventry by 16% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Coventry.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

Are the people of Coventry deprived?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Coventry, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

Professional advice for houses for sale in Coventry

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

What are the asking prices for the houses for sale in the city of Coventry?

In the city of Coventry, what is the average asking price for the houses for sale?

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, 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.

When investors make offers for houses for sale in Coventry, the average price asked by the homeowners works out to be £261,577.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Coventry is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Finding the ideal house for sale for you

Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Coventry.

  • Affordability – check this article from the UK government to find out (see what house for sale you can afford)

  • Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.

  • Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.

  • Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.

  • EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.

  • Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale

  • Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month

  • Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.

FAQ

Is it possible to renovate a property in Coventry?

Coventry is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 7 each month, attaining a success rate of nan and a total population of 47684. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place

What’s the number of property sales each month in Coventry?

14 property transactions are reported in Coventry each month, alongside a broader picture of approximately 1.1 million property sales across the UK.

What’s the year-over-year population change in Coventry or similar cities?

To assess the shifts in Coventry’s population over time, analyse how the population has altered. Look at the ten year change of population of 16%, alongside the five-year change of 9%.

What are the asking rates for houses for sale in the surrounding area of Coventry?

The current average price per square foot for a house in Coventry stands at £0, considering the mean cost for each square foot of houses for sale there.

Does opting for a house for sale in Coventry come with a hefty price tag?

Ascertain the costliness of a property by examining a listed house for sale in relation to the prevailing average selling prices. In Coventry, this stands at £228,141, whereas the UK’s mean is £286,500.

Buying a Home? Find Top-Rated Estate Agents in Coventry

If you’re purchasing property in Coventry? The right estate agent can make all the difference in guiding you through the home buying process. We understand how stressful and time-consuming finding an agent can be so we’ve compiled a list of the highest-rated real estate agencies in the area below. Our goal is to simplify your search and take you straight to reputable agents equipped to help buy your ideal home.

Estate agent Email Contact number Address of agent
Gosford Estates Phone number only 442475119860 111 Far Gosford Street, Coventry, CV1 5EA
Suzanne Regan – Your Coventry Estate Agent Phone number only 442475117632 111 New Union Street, Coventry, CV1 2NT
Allsopp & Allsopp nan 442476880014 115 New Union Street, Coventry, CV1 2NT
Bansal Estates Balwinder Bansal (balwinder@bansalestates.co.uk);Balwinder Kaur Bansal (sales@bansalestates.co.uk) nan 14 Warwick Road
Shortland Horne Phone number only 442476880024 306 Walsgrave Road, Coventry, CV2 4BL

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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