Mayors, mergers and the property market - what might happen to Coventry?

Could a merger between Coventry and Birmingham be on the cards, ask Coventry estate agents Allsopp & Allsopp?  It's the talk of the city, along with news that we could get our own 'metro mayor' as the Government looks at transferring more power from Westminster to local regions. We only have to look to Great Manchester to see how a combined super authority works and Coventry could be part of the next governing powerhouse.
Mayors, mergers and the property market - what might happen to Coventry?

Four Black Country councils and Birmingham City Council have already agreed to create a combined authority and discussions are ongoing between the leaders of Coventry and Warwickshire’s councils, as well as Solihull and Hinckley, about whether to join Birmingham or go their separate ways. If Coventry, Solihull, and Warwickshire joined this alliance, it would be the biggest combined authority outside of London - potentially carrying enough clout to compete for large pots of cash and power. We ask: what this could mean for city's residents and those looking at property for sale in Coventry?

“There's already more competition for houses and flats for sale in Coventry thanks to the existing level of investment and current regeneration schemes across the city”, states Carl Allsopp, “but we have to ask if merging to become part of a larger Midlands force will create more appeal or divert investment away from our city. The finances behind the city's revitalisation have, in turn, boosted Coventry's property market and it's a trend we'd like to see continue. What is interesting is the level of power that could be devolved from Westminster to a combined Midlands authority. Would we be able to set our own levels of stamp duty for our residents (or scrap the tax altogether)? Could the combined authority create a planning body to push through house building? Interestingly, the directly elected mayor of Greater Manchester is gaining control of a £300 million housing investment fund, and it'll be fascinating to see how this budget is handled."

Aside from property, city residents are already questioning what a merger could mean for their local identity. Coventry council leader Ann Lucas commented: “I think that Coventry people should know that whatever happens in the future, Coventry will always be its own sovereign being. We will never stop being Coventry. If anyone thinks that we are going to lose our own identity, look at Oldham in Greater Manchester. The residents there are very proud to live in Oldham, despite being part of a combined authority.”

If you'd like to know more about Coventry, what makes it such a special city and for a selection of houses and flats for sale, contact Allsopp & Allsopp Coventry estate agents today.

Photo by: Snowmanradio

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