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An outlook on houses for rent and sale on Rightmove in Coventry

by | Jul 6, 2023

Home $ An overview on Rightmove property listings in the UK $ An outlook on houses for rent and sale on Rightmove in Coventry

In this overview, we’ll delve into the Rightmove data for Coventry, providing insight into Rightmove data and how this data can aid you in a profitable property purchase. Making a decision on where to buy property is an exciting opportunity and a milestone for a lot of people.
Also, knowing that there are 14 properties sold every month in the area should give you an idea of how often properties are selling and what kind of opportunity there is.

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Properties for sale in Coventry on Rightmove

An overview of Coventry property in Rightmove from an investment perspective

When contemplating an investment property, you can look at the figures of turnover, the number of sales there are every month in the area, and the population change over ten years. The below table is related to the city rather than the wider area of West Midlands. However, you can find data for the wider region here.

Data for Coventry Average for the UK
Turnover 0.22 19%
Property sales per month 14 576,000
Population growth over 10 years 16% 6.5%



It is worth noting that the figures above will be useful if you compare them to the wider region of the UK of West Midlands.

In the area, using Rightmove data, what are most people selling their property for?

In the area of Coventry in the UK, the average sold price of a property is around £228,141. This is based on the average of all of the types of property listed on Rightmove and other listing platforms. Take a look below to see how this average is made up:

Type of property Average sold price
detached house £409,137
Semi detached house £226,545
Terraced house £182,344
Flat £149,080

On Rightmove, how many planning permission applications are there based in Coventry?

82 out of every 100 applications for planning permission in the UK results in a success according to recent data. When it comes to Coventry, the people who own homes in this area have a rate of planning success of nan. Individuals usually seek to modify their properties and apply for planning permission whenever they are trying to increase the value of a home.
This means investors should take note of this data in Coventry. An above-average success rate indicates that property renovations have been proven to work and are repeatable or it could mean that a lot of the properties in the area are very simple in design. This presents an opportunity for investors to assess successful strategies in the area and adopt similar approaches and of the 7 that take place each month, this is likely the case a lot of the time.

Every month, properties are sold on the platform of Rightmove in Coventry and you can explore the topics below related to sales that give you an overview of the market.

How to invest in property in Coventry using Rightmove data

In the area, average asking rents are around £946. This tends to differ depending on the size of the property you are buying and the number of rooms they have. You can read more about these metrics below. For reference, the yields in the area are £0.
Combining the data of yield with the price of rent can give you a good idea about the types of investments in the area. For instance, if a property has a low yield and also low rents, it is likely a lower return, single family buy to let in a less in demand area of Coventry.

Average asking rent Number of bedrooms in house
£1,583 5
£1,273 4
£1,088 3
£812 2
CV1 1

Is it important to look at yield in Coventry in further detail?

A serious investor will know what yield is and how to work it out. The formula is true for Coventry and everywhere else in the UK. Simply calculate net rental yield and the purchase price of the home and then divide the former by the latter. When this calculation is done, for Coventry the figure is £0.
This £0 as a percentage is essentially the amount of money that a landlord makes from the deal in relation to the amount of money they have invested. Take a look at other calculations too like return on capital invested to get a return that is comparable to a direct “return on investment” calculation such as that of a bank.

According to Rightmove data in Coventry, is it worth moving into a HMO?

Currently, the number of licensed HMOs stands at nan that come at an average price to rent of £2,530. You can also see the difference between the price of a standard HMO room and the average price of a HMO room with an ensuite which is £469.
This should give you an indication if it is worth the difference in price to upgrade to a room with a bathroom in Coventry. Understanding where is best to rent in Coventry involves considering the average asking price for a House in Multiple Occupation (HMO) and comparing this to normal rents.

From Rightmove listings, what is the availability of green space in Coventry

Green space is a vital element that is often compromised in different locations, hindering its availability. For instance, urban areas frequently fall short of the recommended benchmark of 6 acres of green space per thousand people. In Coventry, the available data reveals that there are 26.2 acres of green space per thousand residents. For health reasons, there should be 6 acres.

Properties to Rent in Coventry on Rightmove

Looking to rent? Find the most valuable data points for the process of renting below. See our full list of areas in the UK with data from Rightmove if you want to compare these rents to other areas in the UK.

Analysing the rate of education in Coventry from Rightmove

If you are renting or looking to rent, it is good practice to recognise if in the area you are searching, the people have higher incomes. The average household income in this area is £45,186.96 and this figure on a nationwide level has an average of £34,000. It is important to understand this because you want to be in a location that suits your taste and budget.
Coventry’s demographics also reveal a population of 47684 individuals and a percentage of people with degrees falling at 27%. Keep this in mind too and compare it to the average percentage of degrees in the UK which is 22.6%. You don’t necessarily want to be around people you aren’t like or have nothing in common with.

In Coventry, here’s what Rightmove data says about social rent and affordable housing

Through some digging, we found the level of social rent in the area. Currently, this figure is 26% as the percentage of people who are leasing directly from the government. In the area of Coventry, the average household income is £45,186.96 too. This is another figure to reference and compare to the £34,000 average national salary to see who is in financial hardship. You may wonder why it is necessary to have this information and the answer is because it’s important you live in an area that suits your income as life is generally more enjoyable when you pick somewhere to live amongst others in a similar situation.

FAQ

In the city of Coventry, what is the median property price?

The mean property value in the UK is £286k but is changing all the time. Meanwhile, in the local area of Coventry, the average cost of a home available for purchase is £228,141. You can compare these figures to see how far away this city is from the average.

When utilising Rightmove for finding property in Coventry, are there any charges to consider?

It’s essential for landlords to stay alert to an array of costs that you could be subject to as a landlord. These may include, stamp duty rates, costs that may come up due to renovation and also making sure they are aware of the things you can write off as a landlord in a limited company as opposed to your personal name.

Does Rightmove data indicate a high occurrence of crime in the vicinity of Coventry?

The city of Coventry currently has a crime rate where for every 1000 people who live there 18750% commit crimes. This can be looked at in terms of the national average of 79.52 for every 1000 people.

In Coventry, how many sales per month are there according to listing portals?

14 properties are sold in the area every month. A figure you should pay attention to, particularly if you are an investor looking to

On Rightmove, what is the average price of a three-bed property in Coventry?

The mean asking price for a property featuring three bedrooms stands at £1,088.

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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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