Overpriced rentals in Coventry

Last Saturday, I went to pick up my wife from her friend's house in Nottingham. They live in a 4 bedroom terrace house. It even has a basement. I was so shocked when I learnt that they paid the same monthly rental like us - only£400/ pcm. It's a great location - just opposite a play ground and walking distance from a school and shops.

For the same amount, our friends Mozard and Nana's were able to rent a much bigger house in Birmingham.

Our house is a 3 bedroom house, but now after we have converted one of the small rooms into a walk-in closet and another into a study/ guest room, so in the end, we technically only have one bedroom we use. Yes! The kids sleep with us. I guess the only plus point of our house is the huge backyard at the back - the biggest among all our friends.

Our backyard last Winter.

Of course house rentals depends on the furnishings, presence of garden, parking facilities and of course the location. The thing is that here in Coventry, our house rent is considered cheap. The average for a 3 bedroom fully furnished house is £500 upwards depending on location. All our colleagues tell us that we got ours cheap. However, I should point out that most of them live either in Leamington Spa where rental for a single room is around £300.

I simply can't understand why house rentals are so high here in Coventry. Logically, it should be lower than in Birmingham, which is the 2nd largest city in the UK. Nottingham, even though Coventry has a slightly higher population, is far more prosperous. Probably the population has something to do with it. Going back to basic economics principle of demand and supply and their relation to price.

Of course there are exceptions and some guys did get lucky, like one of our friends who was able to get a 3 bedroom, newly renovated fully furnished house in Foleshill for only £380/ pcm.

Anyone here from Coventry who thinks that house rentals are overpriced?