The housing market in Coventry and the surrounding areas has moved up a gear in the last 3 months or so with a flurry of activity from buyers and many properties selling very quickly for full asking price.
The demand seems to be driven by the healthy job market in Coventry with many new positions being created by large firms such as Jaguar LandRover. This is leading to an influx of people moving into the area and adding heat to what was already a healthy property market. Speaking to an RICS valuer the other day, he was of the opinion that prices have risen in Coventry around 5% since the beginning of the year which is considerable by any standards.
There still remains a shortage of stock for sale though and this is adding further upward pressure to prices as well as meaning that we are currently without doubt in a sellers’ market. Great news then if you are a seller. Good news also if you are a buyer, despite the fact it may be more competitive and trickier to purchase a property, once you’ve found somewhere the long term growth prospects look excellent.
So overall it’s a win win. If you’re about to buy or sell a property (or both) then contact Elizabeth Davenport for expert technical advice and friendly support. We’re waiting for your call and are available on 02476 010105.