Having helped so many successful Investors in Coventry in the past year, I’m really looking forward to another successful year, in 2018.
One of the most common questions I get asked is “Where is the best location, to invest, in Coventry”. As you can imagine, the answer will differ from one person to the next. Another problem, is that most housing data is grouped within a postcode sector, for example CV3. So in places like B92 in Solihull or CV32 in Leamington, that works fine, as there is a similar level of desirability across the whole housing range. But in CV3, we have highly desirable areas like Styvechale and Finham, as well as some not-so-desirable areas, the CV3 figure doesn’t always tell the whole story. So to help you along, I’d like to tell you about 3 Buy-To-let Hot spots, for 2018, in Coventry as well as 3 emerging hot-spots, for 2019 and beyond.
1. Whitley Abbey/JLR I’m standing at the entrance of Jaguar Landrover’s Whitley site, and around the corner to Whitley Academy Speaking from first-hand experience, this certainly wasn’t a sought-after school. But since its refurbishment and its Outstanding rating from Ofstead, Coupled with JLR’s expansion of the Whitley Site, prices within a 2-3 miles radius of this location have grown at twice the rate of Coventry’s average, over past few years.
2. University Hospital Being one of the U.K.’s largest teaching hospitals, and located close to the Eastern Bypass which connects to the M6, M69, M40, M45 & M1, there’s never a shortage of professionals to rent to. And that school ratings in this area aren’t the best, is a reason that some families are drawn to other areas. This however means you’re still able to pick up small properties, ideal for first-time tenants, for less that £100k, but achieve around £700 pcm, giving you a yield, nearly double of some other areas.
3. City Centre It seems like an obvious choice, but buying within Coventry’s Ring Road is regularly overlooked. Property prices, within the Ring Road, continues to grow, some would argue at an inflated rate, due to International Students paying a premium, particularly to rent flats. However, even with the amount of student accommodation; and with some purpose built Student Accommodation exceeding £200pw, individual and small groups of students wanting their own Kitchen and Bathroom facilities, as well as an easy commute to campus and City Living, won’t be declining for at least another few years, as long as you follow as few simple rules to attract them.
1. Finham 2 – Tile Hill Increasing needs in the west side of the city, meant that Coventry City Council recently opened Finham Park 2; an attempt to create another Ofstead rated Outstanding school. Unfortunately we won’t see the results for another few years, but if successful, could this school have a similar effect as Whitley Academy. Being located close to the A45, commuting working families would have no issues travelling to work either.
2. Amazon & North Coventry Amazon is coming to Coventry and is already starting to recruit for their new distribution centre, here at the old Jaguar Browns Lane plant. The warehouse will be the size of eight football pitches and Amazon hopes to employ 1,650 permanent jobs. If rental prices in Coventry continue to grow, and property prices in north Coventry remain relatively low, could 2018 see the beginning of a more stable and lucrative Professional Room-Let market.
3. Further along the London Road? As we know, prices in a particular area can increase, due to a ripple effect, originating from neighbouring locations. That Styvechale Prices are amongst the highest in Coventry, Cheylesmore Prices, rocketing over the past 5 years, and Whitley increasing more recently, will the ripple continue and reach Willenhall. That JLR have announced expanding their workforce by 5,000 and that theirPark & Ride service, is close-by, from Coventry Airport, will the ripple effect continue further, past the Chase Hotel and into the Stonehouse Estate, Willenhall and some newer estates?
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