House prices in Coventry rise five-fold in the last 20 years
Houses prices in Coventry continue to rise according to the latest figures from the Land Registry price paid data – http://landregistry.data.gov.uk/app/ppd. This is a very reliable source of information as it tracks the residential property sales in England and Wales that are submitted to the Land Registry for registration.
According to this information house prices in one Coventry postcode have increased five-fold over the past 20 years.
The rise of House prices in Coventry
Median prices in CV3 1, near Binley, have risen by 448% from £34,475 in 1995 to £188,973 in 2015.
In CV4 8, near Warwick University, prices were up 376%, from £39,500 in 1995 to £187,995 in 2015, while in CV1 2 in the city centre, prices were up 347% from £28,950 to £129,475.
Between 1995 and 2015, inflation was 73%, according to the Bank of England, so £1 in 1995 would be worth £1.73 in 2015, meaning house prices in many areas have strongly outpaced inflation.
The rise of Coventry
Coventry’s reputation continues to grow as an appealing place to live. It is England ‘s ninth largest city and has ambitious aspirations to become a world-class city.
With more than £9bn being invested in a number of redevelopment projects throughout the city, including a scheme that will double the current size of city centre’s retail offering, Coventry is not only cementing its position as one of the most preferred business locations in the UK but, also as one of the most promising and appealing places to live.
For city centre living, areas such as Priory Place are conveniently positioned near a new urban square featuring shops, bars, cafes and apartments.
There are many popular and mainly residential area just a few miles out of the city centre with a number of traditional semi-detached houses or bungalows with two or three bedrooms.
For example, Earlsdon, birthplace of Frank Whittle – the inventor of the jet engine, is a sought after location in Coventry. Just over a mile from the city centre, Earlsdon retains its village feel, complete with a number of shops, restaurants, rail station and even its own theatre.
Coventry has been named in the top ten places to live and work in the UK. The research was carried out by Pricewaterhouse Coopers (PwC) and think-tank Demos, with the criteria for deciding the best places to live and work including housing affordability, employment rates, income and skills, commuting times and environment.
Further reading
Coventry named in top ten places in UK