Price Increases in Coventry by 24%. Brexit Showing No Ill Effects Whatsoever!

iStock_000002696243XSmallNo Brexit Ill effects whatsoever? Well, as is always the case the deeper you delve the murkier the reality becomes and that certainly seems to be the case here as well.

Coventry has seen tremendous price rises over the last few years with Styvechale and Earlsdon being the forerunners in most cases. Not anymore. Median price increases are certainly more common than price reductions but some areas have suffered when others have soared.

The remarkable and seemingly unstoppable wave of new students in the city dominates those areas with the highest price rises. CV4 including Charter Avenue, Cannon Park, De Montfort Way, Cannon Hill Road and a radius stretching as far as Hearsall Gold Club have seen prices rise from an average of £370,000 to as much as £458,000 over the last calendar year!

CV6 comes a close second but with a very different demographic. Student accommodation again, albeit Coventry University rather than The University of Warwick, has seen similar increases but with dramatically lower actual sales prices agreed.

What must always be considered when analysing statistics like this is what isn’t included. Statistics are only available because transactions take place. Many areas, Earlsdon being a prime example, have become almost landlocked with sellers wanting to move but with not enough property coming to the market for statistics to be even relevant.

This suggests, as we all know, that if you are truly happy in a location then comparable prices are hard to find and that statistics, sometimes, only tell one of a thousand stories!

 

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