Coventry is known for its rich history, cultural heritage, and exceptional academic schools. All of this makes it a great place to purchase a property, as the city has vast growth that attracts investors locally and globally.
CoventryLive asked Jag Chagger, managing director of Tutis Estate Agents in Holbrooks, about the current state of the property market in the city, the key drivers, trends and what potential challenges may arise.
The steady demand and attractive prices
The property market in Coventry has been met by a steady increase in demand due to ‘the strong employment opportunities’ and the ‘vibrant economy’ with sectors from automotive, manufacturing and education which has drawn professionals seeking housing options.
“Coventry is the traditional home of the British motor manufacturing industry and in particular the headquarters of Jaguar Land Rover, which supports a considerable number of jobs here. JLR is planning extensive investment in their headquarters at Whitley, to develop their engineering and development base here to create a centre of excellence for the manufacture of electric vehicles,” Jag said.
He added: “Coventry’s property market has remained more affordable than neighbouring cities like Birmingham, making it an appealing choice for first-time buyers and investors.”
The growing rental market
Jag says he has seen a ‘surge in the rental sector’ which is largely driven by the city’s status as