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5.44 Babies Born for Each New Home Built in the Coventry area

 

As more babies are being born to Coventry mothers, I believe this increase will continue to add pressure to the over stretched Coventry property market and materially affect the local property market in the years to come.

 

On the back of eight years of ever incremental increasing birth rates, a significant 5.44 babies were born for every new home that was built in the Coventry council area in 2016.  I believe this has and will continue to exacerbate the Coventry housing shortage, meaning demand for housing, be it to buy or rent, has remained high.  The high birth rate has meant Coventry rents and Coventry property prices have remained resilient – even with the challenges the economy has felt over the last eight years, and they will continue to remain high in the years to come.

166 - Graph

 

This ratio of births to new homes has reach one its highest levels since 1945 (back in the early 1970’s the average was only one and a half births for every household built).  Looking at the local birth rates, the latest figures show we in the Coventry council area had an average of 58.7 births per 1,000 women aged 15 to 44.  Interestingly, the national average is 61.7 births per 1,000 women aged 15 to 44 and for the region its 63.9 births per 1,000 women aged 15 to 44.

 

The number of births from Coventry women between the ages of 20 to 29 are significantly lower than the national average, but those between 35 and 44 were closer to the national average.  However overall, the birth rate is still increasing, and when that fact is combined with the ever-increasing life expectancy in the Coventry area, the high levels of net migration into the area over the last 14 years (which I talked about in the previous articles) and the higher predominance of single person households … this can only mean one thing … a huge increase in the need for housing in Coventry.

 

Again, in a previous article a while back, I said more and more people are having children as tenants because they feel safe in rented accommodation.  Renting is becoming a choice for Coventry people.

 

The planners and Politian’s of our local authority, central Government and people as a whole need to recognise that with individuals living longer, people having more children and whilst divorce rates have dropped recently, they are still at a relatively high level (meaning one household becomes two households) … demand for property is simply outstripping supply.

 

The simple fact is more Coventry properties need to be built

… be that for buying or renting.

 

Only 1.1% of the Country is built on by houses.  Now I am not suggesting we build tower blocks in the middle of the Cotswolds, but the obsession of not building on any green belt land should be carefully re-considered.

 

Yes, we need to build on brownfield sites first, but there aren’t hundreds of acres of brownfield sites in Coventry, and what brownfield sites there are, building on them can only work with complementary public investment.  Many such sites are contaminated and aren’t financially viable to develop, so unless the Government put their hand in their pocket, they will never be built on.

 

I am not saying we should crudely go ‘hell for leather’ building on our Green Belt, but we need a new approach to enable some parts of the countryside to be regarded more positively by local authorities, politicians and communities and allow considered and empathetic development.  Society in the UK needs to look at the green belts outside their leisure and visual appeal, and assess how they can help to shape the way we live in the most even-handed way.  Interesting times!

 

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

 

To see the value of your property, please visit Newman.uk.com where you can get an instant online valuation of your own property.

 

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

 

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

 

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

 

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

 

For more information, hints & tips, please call me on 024 7650 0005. I am also contactable via email: heenay@newman.uk.com

 

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

 

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

 

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