Best Places to Buy in Coventry 2023

The property market can be intimidating, but it is exceptionally tricky to navigate in our current climate. With many people in Coventry battling against the cost-of-living crisis and struggling to stay within their means, finding that perfect, manageable home for your family appears to be an impossible feat without the right guidance. So, if you’re looking for some advice on where to look in the city, whether it’s for yourself, or to make the correct investment, this guide will provide what you need to know for your search.

The average price for a house in Coventry is £247,009, which ranks below the UK average as of 2022 but as affordable as Coventry properties are in general, there are some parts of the city that won’t burn a hole in your pocket and could offer you more for your money:

1. The most expensive postcode is CV5, home to areas such as Earlsdon, Allesley and Eastern Green which boasts an average house price of £203,943, requiring a deposit of £30,591. This is likely due to the convenience of living near the high streets, it being a student hotspot because of the easy commute and the strong professional network in the area which has created a strong demand for Buy to Let. With the rent for a 1 bed starting at £650 and beginning at £950 for a 3 bed, this region could be a lucrative investment for those looking to enter the market.
2. If Binley, Willenhall or Finham of CV3 have caught your eye, you could be looking at £193,610 to buy a house, £675 to rent a 1 bed and £850 for a family home in a quiet, scenic section of the city, offering stylish properties. Residing near Warwickshire Retail Park and TGI Fridays, entertainment for all can be found here.
3. The University of Warwick has created many Buy to Lets in the nearby regions of Tile Hill, Canley and Lime Tree Park in CV4, so it’s no surprise that the rent for a single occupier can be as high as £825. Larger residences are more likely to benefit from living in the area as the rent for a 3 bed doesn’t start much higher, at £850. Public transport is the most efficient here with two train stations and consistent buses, which is sure to appeal to those who commute as other parts of Coventry can be difficult to traverse without your own means of travel.
4. Moving on to CV2, where Wyken, Stoke and Walsgrave reside, the average house comes up to £164,383 making it one of the more affordable places to live in Coventry. Within touching distance of the University Hospital Coventry and Warwickshire makes it a popular location for the hospital staff to buy and rent, keeping this area in a hefty price threshold. Renting by yourself seems to be the most difficult here due to the student appeal so you’ll mainly find house shares but the few 1 bed properties available can be found at £750 and above. However, a 3 bed property can be let at just £795 and with the multiple school links, this is a brilliant option for families alike.
5. Shockingly, one of the most affordable zones to put a deposit on is the heart of Coventry, CV1. Finding a new home in Hillfields, Gosford Green and Spon End will set you back £154,753, nearly £50,000 cheaper than a home a few miles away in CV5. Despite this, the rental prices are much higher here than elsewhere, reaching £1050 for a 1 bed property and £1500 for multiple occupiers, due to the lack of actual city living (not including students). Moreover, the main amenities are a footstep away, with attractions such as the Belgrade Theatre, The Transport Museum, an endless plethora of restaurants, bars and shops contributing to the cost.
6. Beating the other postcodes, however, with an average house cost of £153,979- requiring a deposit of only £23,097- is CV6. Whilst it would offer the lowest return on an investment, a regular renter or homeowner should keep Holbrooks, Longford and Foleshill on their radar. Renting a 1 bed can start at just £625 and for a 3 bed, £850. Being further from universities, less students reside here which may benefit those looking for a peaceful postcode. With great access to other parts of the city through the multiple transport links, including the Coventry Arena Railway Station and an array of schools, this could be the place for you.

Coventry is one of the fastest places to sell a house in the country and has become the 10^th best city for buying properties in 2022, so the demand will only increase from here on out. The information compiled in this post should ease the stress and burden that can come with properties and allow you to make an informed choice on where to move your family or where to make the best investment for you!