Oxford property values have increased by £1019.22 per week

Last week, a landlord dropped in
to discuss the rising property values in Oxford. He owns a varied portfolio of rental properties, primarily in our good town, so it is interesting to compare the increase in property values around the area.

Over the last 12 months the average property value in Oxford has risen by nearly £53,000, from £379,795 to £431,861. This is a very reasonable 13.71% increase. This is a considerable average increase of £1019.22 per week.

When I looked at some of the surrounding towns, Abingdon has a lower average increase in property value, at around £562.48 per week, whilst Witney has an even more modest average increase of around £489.63 per week. It is, nonetheless, a rise in average property values to suggest the market continues to recover nicely in our area.

When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the 12 months. They continue to rise steadily, therefore it could be a good time to invest in the property market in Oxford. If you would like some advice about buying to let, please come and see us at our office on Woodins Way.

Happy Tuesday all.

Property in Kidlington with great returns!!!

THE PHELPS, KIDLINGTON

Well I might as well just stick right here in Kidlington people, because at the moment they have some beauties on offer!

On with Chancellors for £265,000 this one will fetch £995 on the rental, fetching a 4.5% yield with little danger of a void period.

It ticks all the right boxes on decor. The only thing that would need looking at is the shower situation. This is vital to letting so if there isn't one then it will need one.

This sold on the 21st June 2011 for £190,000. The last property sold in this location was 28th November 2014 at £250,000 so I am sure you will agree they are heading in the right direction on the CA front!

Great location as well. Always hugely popular with tenants. I look after a few down this area of Kidlington and they have been ticking over nicely for years.

Have a good weekend all.

Best regards

Property in Kidlington with a great return!

WILSDON WAY, KIDLINGTON

Up and coming area is Kidlington! Or an established area for those who know and becoming ever the more popular with the new train line to going in shortly. In addition to this it is becoming increasingly more attractive to investors looking to make a steal on the yield return. Prices in this location are commanding but yet more affordable Vs rental income than places such as central Oxford.

On for £259, 950 at will attract a rent of £995 - £1025 which will bag you 4.7% yield which is a healthy return for your investment. It was purchased in December 1998 (UK number 1 was Believe by Cher for all you music lovers) for £72,500. 17 years on and it is now over 3 times the original value. Ok, ok we dont have nor we will have a 2007 property boom to look forward to but barring a few occasions property prices have continued to move in the right direction and certainly more recently. If I look at one more recently a terrace house in this same location went for £210,000 on the 21st March 2014. Now that is progress in short order.

Call and pick my brains at will people but I doubt this will stay on long.

Happy weekend.

Cambridge has itchy feet as 7% more people move than in Oxford

A brilliant indicator, which is commonly overlooked, of an area’s property market is the amount of times properties change hands.

Since the 2011 census there are 55,375 properties in Oxford and only 1296 have changed hands in the last 7 years. Our neighbours in Cambridge may only have 46,714 properties, but of these 4308 households moved during the last 7 years. This works out as 9.22% of the town’s property market changing hands, which is a significant difference to our 2.34%

When we looked at our other neighbouring towns, Abingdon has seen 4054 of 49,047 households change hands. This is 5.88% difference than Oxford movers.

This shows you must cover every detail from the property to the area’s market before making a decision to buy, be it for yourself or as a buy to let investment.

If you would like to talk to us about buy to let, please feel free to visit my office on Woodin's Way, Oxford.

Best Regards

Richard

GORDON WOODWARD WAY, OFF ABINGDON ROAD, OXFORD

So this one hit my radar this morning and with a number of properties in this location I am well on hand to advise you buy it.

On with Oliver James for £285,000 you can expect to let this one out, on a furnished basis, for £1075 per calendar month which will see a return of 4.5%.

Crunching the numbers further reveal 6 monthly management charges at £577 and ground rent at £275 for a nicely kept development. This particular property sold for £229,950 in September 2005 and at its current price it has certainly held its own during financial downturns.

The outlay on works required look minimal with a repaint required in some areas, notably the bedrooms, but other than this it looks good to go and would attract professional sharers or couples, for which there is a huge market at present.

Call me if you would like to find out more.

Best regards

Coming soon in central Oxford..........

Empress Court, Oxford

1 bedroom top floor apartment

Coming soon my sources tell me folks and for those of you who know our great city, you will know that this is an opportunity not to be missed.

By all accounts its a bit of a fixer upper inside but I count this development in my top 3 in Oxford and I would hope my advice may hold some sway considering I actively let and manage over 30 of these units!

Not one of them has experienced a void since 2006. You could buy one in 2011 for 236,000. The going rate now is approx £305 - £315,000 with an achievable rent of £1150 - £1295pcm. Ground rent and maintenance charges scale approx £1200 per annum.

This opportunity is not without some consideration but it is a chance to get your hands on a city centre apartment in one of the most sought after locations in Oxford.

Call me for more.

Happy Thursday

Deal of the week in Cowley, Oxford

WILLIAM MORRIS CLOSE, COWLEY

Afternoon folks,

I hope you are well on this fine, soon to be snowy Tuesday so I hear.

So looking to this weeks investment bargains I present this one currently on with Chancellors with a guide price of £250,000. This development offers a mix on the 2 bed apartments between 1 or 2 bathrooms, with this one having only the one, however the going rate on rent is £1150 which gives a nice little yield of 5.5%.

If you consider the internals there is little to be done as well. Its modern finish is just what the doctor (or tenant) ordered. Other redeeming features are its locality to local kids schools which is a big draw for parents.

This was bought on 26th October 2011 for £215,000 and 3 years on has a swing of £35,000, or more if the guide price is exceeded which is very positive for appreciation.

Definitely worth looking into if your New Years resolution was to invest in bricks and mortar!

Best wisheds for 2015.

Richard

Oxford has some of the most expensive properties in the region Vs salary

A landlord came in to my office earlier this week to discuss the affordability of property in Oxford, with the current national property market being in recovery with increasing house prices. The best advice I can give to those looking to invest in property is my secret trick of the trade.

You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

When we put this to the test, we found that Oxford currently has an average property value of around £427,000 with the average salary being £27,595. This is a  ratio of 15.49. Meanwhile in Cambridge the ratio of property values to salary is 11.5 , which suggests the property in our town is 14% less affordable than in Cambridge.

We also had a look at Abingdon and found the average salary is £29,097 and the average property value is £312,000. This means that property in Oxford is a rather significant 31% less affordable than Abingdon, with a ratio of 10.7

So what does this all mean for all us Oxford landlords? Put plainly this could mean that now is a brilliant time to invest in Oxford's property market. Despite the trend working against Oxford with it's neibouring towns on affordability it refuses to show any sign of slowing down, with the rental market continuing to flourish year on year. Why? Call me and I will explain!

 If you would like to talk to me about your potential investment, please come into our office on Woodins Way or call me on 01865 812113.

Best

Richard