House prices in Coventry

This article shows price per square metre data and various charts to help you understand the housing market in Coventry - stats were last calculated on 03 December 2024.

Defining 'Coventry'

This boundary is taken directly from the Office of National Statistics area called Coventry. It is shown in red on the map below.

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Price per square metre

Knowing the average house price in Coventry is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area

For example in October 2024, 3, Calvestone Square, Coventry, CV22 7FQ sold for £401,219. Given the internal area of 120 square metres recorded on the EPC, the price per sqm is £401,219 ÷ 120 sqm = £3,343.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-). It is a huge pain to code the automatic conversion for square meters to square feet for all the graphs and charts on Coventry and elsewhere. All the conditionals turn my tidy code for into spaghetti. I will get around to it at some point, but for now you can just divide everything by 10 in your head, move a decimal place and you'll be close enough. If you want to be more precise 1 sqm = 10.76391 sqft.


Distribution of £ per sqm for houses vs flats in Coventry

Tip: click on the legend labels to show/hide different property types.


The chart above is called a histogram, it helps you see the distribution of house price per sqm in Coventry To make this chart we put all the sales data into a series of £ per sqm 'buckets' (e.g. £2,350 to £2,500, £2,500 to £2,650, £2,650 to £2,800 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 2,670 sales that took place in Coventry in the last 12 months.

Generate a custom histogram like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in Coventry. Notably, only 25% of properties that sold recently were valued at more than £3,160 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of Coventry homes.


Box plot of £ per sqm for Coventry

Tip: click on the chart to see the values.


The chart above is called a boxplot (or a box-and-whisker plot). Box plots, like histograms, are used to graphically represent the distribution of data, showing the central tendency, spread of the distribution. In the context of £ per square metre property price distributions, box plots represent the variation in property prices within a geographic area e.g. Coventry. The chart above shows a boxplot for 'Coventry' broken down by property type (Flats, Semi-detached, Detached and Terraced). Almost everywhere houses command higher prices per square metre than flats, and detached houses most of all.

  • Median: The horizontal line inside the box represents the median (£ per square meter). This is the midpoint of the data, meaning 50% of the prices are below this value, and 50% are above. The middle price per square metre in 'Coventry' is £2,690.
  • Interquartile Range (IQR): The box spans from the 25th percentile (Q1) to the 75th percentile (Q3). This is the range where the middle 50% of the data lies, giving a good indication of the typical price spread. Of the 2,670 sales in Coventry half were sold for between £2,260 and £3,160 per square metre.
  • Whiskers: In our case, the whiskers extend from the 9th percentile (at the lower end) to the 91st percentile (at the upper end), This provides a slightly broader view of the distribution by including the middle 82% of records. The whiskers capture most of the variation but exclude extreme outliers caused by data errors in recording sold house prices or internal area.
  • 'n=' is the number of property sales the box is based on.
  • Property price map for Coventry

    Have a look at the interactive price map I created for myself. Use it to explore postcode area 'Coventry' house prices all the way down to individual property plots.

    House price map for Coventry
    House price map for Coventry

    Will Coventry house price go up in 2025?

    I cannot tell the future and don't believe anyone who says they can. However we can plot price trends, I have done this in the chart below for houses and flats in Coventry. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.


    House price index for Coventry

    Tip: click on the legend items to show/hide different lines


    Download house price index as CSV (premium users only).

    The chart above shows changes in 'Coventry' property prices over the last 20 years. The index is calculated from the average price paid per sqm for property in Coventry and is set to 100 in 2004. The chart compares trends for Flats vs Houses in Coventry. You can see how different they are. Keep this in mind when you see any price index that doesn't provide this breakdown.

    The dashed lines show nominal house price changes, the solid lines show the same data adjusted for inflation. Economists call this the 'real' price change. You have to take inflation into account when comparing prices over time. It's calculated using the formula:

    Real Rate of Return = (1 + Nominal Rate) ÷ (1 + Inflation Rate) – 1
    In this formula, the nominal rate is the rate of change before any adjustments, and the inflation rate is taken from the Consumer Price Index. The real rate of return is a more accurate measure of change in value, because £1 today does not have the same buying power as £1 in the past. For example, if a savings account pays an interest rate of 3% per year and the inflation rate is 5% per year, the real rate of return is -2%. This means that the investment's value is shrinking by 2% each year.

    Historic returns for Coventry
    Flats Houses
    Nominal Real Nominal Real
    20 yr per annum 2.1% -0.6% 3.6% 0.9%
    20 yr total 50.5% -10.9% 102.7% 20.1%
    10 yr per annum 3.5% 0.7% 4.7% 1.9%
    10 yr total 41.1% 7.1% 59.0% 20.7%
    5 yr per annum 1.1% -2.8% 3.6% -0.4%
    5 yr total 5.7% -13.4% 19.5% -2.2%
    1 yr per annum -0.8% -4.7% 1.2% -2.8%
    1 yr total -0.8% -4.7% 1.2% -2.8%

    This table complements the house price index chart above, presenting the data in a more detailed format. It breaks down the information into 20-year, 10-year, 5-year, and 1-year periods, further categorized by property type. For each period, we display both a per annum rate of change and a total rate of change.

    The total rate of change represents the overall change over the entire period. The formula for total return is:

    Total return = (Index at end of period ÷ Index at start of period) - 1

    The per annum rate of change is the annualized rate of change over the period. This is equivalent to the annual bank savings rate you would need to achieve the same total return over the given period. This annualized return is also known as the Compound Annual Growth Rate (CAGR). The formula for CAGR is:

    CAGR = (1 + Total return) ^ (1 ÷ Number of years) - 1

    Some specific examples:

    • Over the past 20 years, Flats have seen a -0.6% annual change when adjusted for inflation. This translates to a total change of -10.9% in real terms.
    • Over the past 5 years, Houses have seen a -0.4% annual change when adjusted for inflation. This translates to a total change of -2.2% in real terms.

    Transaction volumes

    Property transaction volumes in the UK follow a cyclical pattern. In addition to seasonal trends that occur annually, transaction volumes fluctuate with changes in house prices. When prices are rising, transactions typically increase, whereas falling prices tend to result in fewer sales, with only motivated sellers (e.g., due to death or divorce) entering the market. Exceptions to this trend often occur when changes to Stamp Duty drive a temporary surge in transactions.


    Number of properties sold in Coventry

    The chart above shows the number of properties sold each month in Coventry as reported by Land Registry. Key events highlighted include the Northern Rock bank run at the start of the 2007/8 Financial Crisis, the introduction of additional Stamp Duty on second homes in April 2016, the COVID-19 lockdowns and subsequent Stamp Duty holiday, and the 2023 interest rate rises. It's important to note that Land Registry reporting is lagged, particularly affecting new build sales, so treat the last year of sales volume data with caution. Based on historical reporting lags, I've provided a crude forecast of sales volumes for Coventry, shown in yellow.

    Nearby geographies

    The table below shows how 'Coventry' compares to the other Local Authorities nearby 'Coventry'.

    Laua Lower quartile Median Upper quartile Sales in last 1yr
    Warwick £3,410 sqm £4,000 sqm £4,540 sqm 1,482
    Solihull £2,720 sqm £3,520 sqm £4,360 sqm 1,952
    Rugby £2,570 sqm £3,090 sqm £3,560 sqm 1,083
    Nuneaton and Bedworth £2,140 sqm £2,660 sqm £3,130 sqm 1,177
    North Warwickshire £2,370 sqm £2,840 sqm £3,400 sqm 473
    Coventry £2,260 sqm £2,690 sqm £3,160 sqm 2,670

    Raw data

    Our analysis of Coventry is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

    Address Paid sqm £/sqm
    3, Calvestone Square, £401,219
    Oct-2024
    120 3,343
    50, Hardwick Field Lane, £370,000
    Oct-2024
    101 3,663
    2, Paxmead Close, £170,000
    Oct-2024
    73 2,328

    Search the entire list of all sales here.

    About

    I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.