I got chatting with my client the other day who has just bought a
property for investment in Manchester and he was talking about the cost
effectiveness of purchasing for investment in this area. Not being one to stray
from my roots it got me thinking, how affordable are properties in Oxford?
Price to earnings ratios are effective measures of the relative
affordability of property in a given area. So I looked at Oxford Vs the
national average.
Oxford's price to earnings ratio stands at 13% based on the average
purchase price. The national average shows a 9% ratio against the average. This
shows Oxford as being 40% less affordable than the national average. Even when
you consider the governments help to buy scheme, first time buyers still have
to front up 5% which could still prove too costly in this area.
So what does this mean? Well for all you landlords out there the message
is clear. The rental market remains strong and growth looks sustainable for the
long term. We have plenty of budding first time buyers out there but securing a
first home is not easy which in turn continues to drive the rented
sector.
Taking all this into account now could be a brilliant time to consider
investing in the Oxford property market.
If you fancy a chat or would like to know more feel free to pop into my
office on 31 Woodins Way, Oxford or call me for a chat.
Wow, cool post. I’d like to write like this too – taking time and real hard work to make a great article… but I put things off too much and never seem to get started. Thanks though. building apogee beach
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