The UK has been in the midst of a pandemic since March. However, the good news is that lockdown is finally easing, and the property market is getting into gear again.
The recent uncertainties mean that house prices may be temporarily lower than usual – making it a great time to consider investing. This is especially the case in a popular town like Bedworth.
Bedworth is a charming market town; a fact that homebuyers are increasingly waking up to. In fact, it’s common for demand to exceed supply when it comes to houses in the area; and as such, prices have started to rise.
If you’re thinking of moving to Bedworth, here are just a few reasons why you should invest soon, in order to reap the rewards later.
Why invest in Bedworth property?
It’s growing in popularity
Bedworth’s history dates back hundreds of years. Once a small village, it’s grown to become a vibrant, family-friendly town, with a population of well over 32,000. People search for property for sale in Bedworth as they want to make the most of the amenities, sense of community, and easy commute to neighbouring cities.
This popularity is only likely to grow in the future, with estate agents predicting a surge of post-lockdown interest. As such, it’s worth exploring the market sooner rather than later.
It’s ideal for commuters
Many people were working from home during the coronavirus pandemic, but now it’s time for everyone to start returning to the office. If you commute to Coventry, Nuneaton, Leicester or Birmingham, Bedworth is definitely a top location for you to consider.
The town has its own train station, with trains to Coventry taking just 12 minutes. Nuneaton is even closer (a seven-minute commute), and the journey to Birmingham takes an hour. If you prefer to drive, there are several main roads close by, like the M6, the M69, the A5 and the A444.
Major regeneration plans are in the works
Like the neighbouring town Nuneaton, it seems that Bedworth will undergo a dramatic transformation at some point in the near future. Back in 2019, residents were asked to give their opinions on how the town centre should be regenerated, and the next stage is for the local council to apply for funding.
Some of the plans currently being considered include:
- Extending green spaces into the heart of the town
- Enhancing All Saints Square
- Reviewing the position of the market
- Improving the Almshouses frontage
- Enhancing the views of Bedworth from the Ringway
- Improving the area around the train station
Generally speaking, when regeneration takes place in a town, house prices rise accordingly. That’s why it makes sense to invest in Bedworth property as soon as possible.
Rental demand is increasing
If you’re considering a buy-to-let investment, Bedworth is an attractive proposition. The CV7 and CV12 postcodes are both exceptionally popular with tenants, and at present, there aren’t enough properties on the lettings market to meet demand.
Anything over 3.5% is considered a solid rental yield, and currently, Bedworth’s properties are generating around 5% to 5.5% per annum. That makes them a lucrative option, and landlords are also likely to generate profits from capital growth.
It’s got excellent schools
Bedworth has multiple primary schools; and many of these are delivering academic results that are above the national average. For example, The Canons C of E Primary School was awarded ‘outstanding’ in its recent Ofsted report, and St Francis Catholic Academy saw 81% of students meet the expected standard in reading, writing and maths. The national average is 65%.
There are also some great secondary schools close by. President Kennedy School Academy is only a short drive away (in Coventry) and was rated as ‘outstanding’ at Ofsted. Likewise, Cardinal Newman Catholic School achieved above-national-average results in its recent GCSEs.
Stamp duty holiday
Another major reason to buy a property in Bedworth is the current stamp duty ‘holiday’ for properties priced below £500,000. This gives buyers the chance to save thousands when purchasing a house, but you’ll need to get in quick, as normal stamp duty rates will be reintroduced from 31st March, 2021.
It’s an investment for the future
Bedworth is fast becoming a property hotspot. Prices are creeping up; a trend that looks set to continue over the coming years. It’s also gaining popularity with tenants, which is useful if you’re looking for a buy-to-let investment.
In short, buying property in this town after lockdown is a savvy move, whether you’re looking to make a profit in the future, or searching for your perfect family home.