Category Archives: latest statistics

What’s Happening in the West Oxfordshire Rental Market?

In my last blog I wrote about how the volume of residential property sold had dipped an astonishing 29% in 2017 (Oxfordshire Property Sales Plummet) so it seemed a good time to conduct a deep dive into the rental market in West Oxfordshire, with a particular focus on Witney as the main urban centre.

Supply of Rental Property Increases

We track the supply of rental properties in Witney over time so we can provide contemporary, unique advice. What’s been particularly noteworthy is that the supply of property to rent in OX28 is up by 55% on 2017 and this isn’t specific to any given size property:

Supply 2017 vs 2018

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First Time Buyers Pushing Affordability Boundaries

  • The latest NAEA report suggests that some first-time buyers, particularly in areas outside of London are pushing themselves further in order to maximise the benefit of stamp duty relief. In this way, they suggest, they are skipping the traditional first home and making the jump straight up the ladder to what might previously have been their second purchase, thus also saving on future stamp duty costs.
  • While shrewd of first-time buyers, if this becomes more widespread, pressure is likely to intensify on next rung of the ladder making it harder for those true ‘second-steppers’ who wish to move up the ladder out of their first home.
  • 50_Dataloft_inform_Editors_pick(1)

The Growth of the Private Rental Sector

In 2016-17, the private rented sector accounted for 4.7 million or 20% of households.

The latest English Housing Survey (2016–17) has just been published and it reveals the continued growth of the private rented sector. Over a fifth of households (20.3%) now rent privately, up from 19.9% a year earlier and a higher proportion than ever before.

As is well documented, across all the regions, the growth in London’s rental sector has been most pronounced. It now accounts for 30% of households, up 11.6 percentage points from ten years ago. While there are over 2 million more households renting privately than there were ten years ago, almost half a million of these are in London.


In 2006-07, about three quarters (72%) of those aged 35-44 were owner occupiers. By 2016-17, this had fallen to half (52%). While owner occupation remains the most prevalent tenure for this age group, there has been a considerable increase in the proportion of 35-44 year olds in the private rented sector (11% to 29%). The proportion in the social rented sector did not change.

The most recent available figures for West Oxfordshire show that 12.5% of households live in social rented accommodation and 14.9% (6,243 households) in privately rented accommodation. Delving into the detail a bit more; there are 1,525 privately renting households in Witney (13.4%) and 1,660 in Carterton (28.2%).

Property Prices for 6 Nations Countries

House prices can’t predict rugby or can they?! Last year’s first and second placed teams were also top of the leaderboard in terms of annual house price growth.

  • The six nations 2018 Championship gets underway at the weekend with England looking to defend their 2017 title.
  • Should the same occur this year, based on current rates of annual house price growth, it looks like Ireland will swap places with England as Champions.
  • No chance…..20180130-6_Nations_Rugby.png

Oxfordshire Property Sales Plummet

St Marys Mead

The latest data from the ONS suggests that the volume of property transactions in Oxfordshire have plummeted[1]. Across the County as a whole, 26% fewer properties have been sold than 12 months previously whilst values have risen in line with inflation and crept up +2.7% to an average of £356,262. This compares with an average price of £243,339 (up +5.3%) across England. Read more

Looking ahead – Predictions for the West Oxfordshire Property Market in 2018

Supply & Demand – Population

Local government forecasts predict a 29% increase in the population of the Witney area over the next 10 years. Coupled with the exceptionally low rate at which we are building new homes and sales volumes (the number of properties sold) dropped by 19% in 2017 (compared with 2016) and the market fundamentals remain out of balance. Read more

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