How Have House Prices Changed In Bedworth?

Posted on: 9 September 2020

How Have House Prices Changed in Bedworth?

If you’re looking for property for sale in Bedworth, it’s worthwhile examining the market and seeing how house prices have changed in recent years. If average property values have increased, this is a positive sign, as it indicates that the area has become more desirable.

Here are some details about Bedworth’s house prices, and what’s happened to the local market in the last decade.

 

Bedworth property for sale – a ten-year overview

Bedworth’s property market has certainly evolved in the last ten years, with all types of home experiencing an increase in price. For example, back in 2010, an average detached house in this area was £225,663. Now, based on data collected before the COVID-19 pandemic, it’s £283,636. That’s a major increase in value.

Likewise, semi-detached properties have risen in value by around £40,000 in the same time period, as have terraced homes. Flats have increased by around £25,000, on average.

This growth has been steady over the years, and highlights how popular the town is becoming.

 

What drove Bedworth’s property prices upwards?

There are a number of factors that have caused the town’s house prices to rise in the last few years. These include:

- Demand outstripping supply. Demand for homes in the area has grown, and there haven’t been enough properties to meet it. This has pushed house prices upwards. It’s also worth noting that most properties tend to sell within a month of being on the market.

- Commuters leaving the cities. There’s been a notable surge in people leaving the cities in recent years. They’re usually looking for a quieter lifestyle, without sacrificing proximity to their workplace. Bedworth is perfectly positioned to commute to Nuneaton, Coventry and Birmingham – a fact that homebuyers haven’t failed to notice.

- It offers great value for money. Bedworth’s average property prices are considerably less than the national average. They’re also cheaper than average Nuneaton and Coventry house prices, which has made the town particularly appealing to buyers wanting to get more property for their money.

 

What about property for sale in Bedworth in 2020?

Bedworth property prices took a slight hit in 2020, due to the coronavirus pandemic. However, the same can be said for virtually every other location in the country. This looks likely to change, though. The government’s ‘stamp duty holiday’ for properties costing under £500k has already stimulated the market, and interest in Bedworth is once again growing.

Experts predict that property prices will start to climb fairly soon, especially as more people are choosing to work from home, rather than commute to their workplace; and they’re looking for a location that has pleasant surroundings. Bedworth’s attractive town centre, not to mention its amenities and excellent schools, means that it’s likely to be sought-after.

If you’re looking for a property for sale in Bedworth, it’s a shrewd idea to buy soon, in order to capitalise on the stamp duty holiday. This could potentially save you thousands of pounds, and you’ll also save money by buying before the market fully recovers after COVID-19.

Photo Credit: Covcash 

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