Property for Sale in Coventry Changing Hands at a Rapid Rate
Online, July 28, 2014 (Newswire.com) - Carl Allsopp, a founding partner at the agency, says the city is enjoying a buoyant period with many home movers keen to finalise a sale or purchase before autumn: "There is a new-found sense of immediacy in the Coventry property market, with both buyers and sellers looking to forge ahead with transaction during the summer. This is reflected in the number of properties for sale in Coventry that have sold in June. The team at Allsopp & Allsopp have been averaging more than one sale a day for a number of weeks and going by the number of valuation we are attending in the city - and the number of new buyers registering with us - that trend looks set to continue."
The sales success at the Coventry estate agent comes at the same time as the latest House Price Index from the Nationwide. The building society's report for the second quarter of 2014 showed house prices in Coventry on a moderate upward trend. During the last three months, values in the city had risen by 3%, with a historic rise of 14% charted over the last 10 years. "We are pleased that house prices haven't risen at an uncontrollable rate in our area as this imbalance isn't healthy for a market like ours. The modest growth of 2% in the first quarter of 2014 and 3% in the second shows that demand is high but in check," adds Allsopp.
With the Nationwide indicating that house prices had risen every month for the last 14 months, affordability has become an issue in some parts of the UK. Even in the West Midlands there is a disparity among average house price values, which could see some buyers being priced out of some towns and cities: "While we always enjoy achieving an attractive sale price for our clients, we are conscious that affordability is paramount to a healthy property market. The latest figures show that Worcestershire house prices have risen 11% in the second quarter of 2014, with similar uplifts of 10% in both Warwickshire and Birmingham.
Property for sale in Coventry has appreciated at a far more sustainable level and although with some growth, there is still plenty of room for first-time buyers and second steppers looking to move up the property ladder," concludes Allsopp.