Coventry's average house price predicted to rise by nearly £27,000 in three years

[dutchman]

First-time buyers could find it harder to get on property ladder in a university city

The average price of a house in Coventry could rise by almost £27,000 over the next three years.

The prediction will come as a boost to the city’s property market but may not be welcomed by first-time buyers trying to get their first foot on the housing ladder.

In addition it is likely to further fuel the controversial debate over the amount of student accommodation in the city as the anticipated rise is being attributed in part to Coventry’s status as a university city.

Research conducted by online estate agents HouseSimple.com has revealed average property prices in the UK’s top 50 university cities have risen by more than 27 per cent over the last three years.

The online agency says it is likely values will continue to rise at a similar rate over the next three years.

In Coventry it estimates the average house price - currently £153,926 - will increase by £26,925 between now and 2019.

The agency says the property price rises mean parents could buy a second home or buy-to-let for their child to live in while they are studying, and the house price growth over the duration of their three-year degree could cover the cost of tuition. That obviously has a knock-on effect for those competing to buy homes.

Given tuition fees average out at around £27,000 for three years it means a house purchase in Coventry could virtually cover fees for an entire degree course.

[rebbonk]

Crystal ball gazing? All sorts of things could happen, this 'article' isn't worth the paper it's written on. Shame on you CT.