What Determines the Price of your Home?

Guest blog by Gavin Pike MNAEA – Senior Sales Partner, Martin & Co Witney

Ask any economics student what determines price and the instant answer will be ‘supply and demand’.  This is as true for housing as is for anything else from crude oil to bitcoin.

Critically for the house seller, some of these factors are beyond your control whilst others can be made to work in your favour.

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One of the reasons prices are so high is that a very small percentage of the housing stock is available at any one time. Last year less than 4.24% of Oxfordshire’s housing stock was sold.  In other words, any one Oxfordshire home comes to the market on average every 23½ years! Continue reading “What Determines the Price of your Home?”

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.
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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

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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. Continue reading “Oxfordshire Property Sales Plummet”

Twelfth Night

Clean 12 daysAs with so many festive traditions, the twelve days of Christmas leading to Twelfth night are familiar, even if their roots seem a little shrouded.  Generally recognised as the period been Christmas day and the Coming of the Epiphany the period marked the traditional length of Christmas festivities.  Pagan beliefs also explain the tradition of taking down festive decorations on Twelfth Night.  These decorations often took the form of evergreen foliage (typically holly and ivy) and some believed that tree spirits sheltered in the decorative sprigs.  Removing them either before or after Twelfth Night came to be regarded as unlucky as the disgruntled spirits would exact a toll in the following year’s crops! Continue reading “Twelfth Night”

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. Continue reading “Looking ahead – Predictions for the West Oxfordshire Property Market in 2018”

Witney and West Oxon Property Forecast…..Where are we now and what is next..

Blanket Hall SketchOn 9th November 2017, four professionals from some of Oxfordshire’s local businesses gathered together to present at the historic Witney Blanket Hall on investing in Oxfordshire property.

If you missed the presentation or in the absence of the Great British Bake Off you’d like to watch a video of the presentation then this is available on our facebook page which can be accessed here FB.

If you would like to download the slides from the presentation, you can do so here – http://bit.ly/seminarslides

 

West Oxfordshire Property Event

Blanket Hall Sketch

Would you like to know more about investing in local property? Whether you’re a seasoned landlord, just dipping your toe in the water or on a fact finding mission then this event is essential to get all the latest facts, tips and critical information to get the very best advice about investing in property in West Oxfordshire. Our panel of experts from local, Witney businesses are on hand to dispense free advice at 6pm on Thursday 9th November at the historic Witney Blanket Hall. Experts from Everyman Legal (solicitors), M Group (accountants), Martin & Co (local property experts) and London & Country (mortgages) will be on hand after the 1 hour presentation to answer any further queries you may have. We’ll even provide something to eat and drink!

Please register now for your free tickets as spaces are limited: witneypropertynews.com or look on Facebook for Martin & Co Witney for more details

BOOK TICKETS HERE

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It’s Official – West Oxfordshire best in England!

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  • Research for BBC’s Radio 4’s Woman’s Hour has named the English local authority of West Oxfordshire as the best place to live in England if you are a woman.

Continue reading “It’s Official – West Oxfordshire best in England!”

What Property Makes the BEST Investment in West Oxfordshire?

I was recently asked by WODC to put together a brief paper on the local Private Rented Sector (PRS) to help inform a cabinet level debate. Having done the legwork I thought I’d share my findings with you as some light reading. The aim of this is to help any potential buy-to-let investors make an informed decision about the type of property to purchase. Continue reading “What Property Makes the BEST Investment in West Oxfordshire?”

What next for West Oxfordshire property values?

The interesting times in which we live continue; political uncertainty, continued ultra-low interest rates and the creeping rise of inflation are all having an impact on local property prices. Focussing on Witney and Carterton and specifically looking at houses (excluding new builds) sold over the last 5 years, it’s interesting to note that there has been a see-saw effect: Continue reading “What next for West Oxfordshire property values?”

A Tale of 2 Towns – an in-depth look at the West-Oxfordshire Property Market

Are there fundamental differences in the Witney vs Carterton property markets? Let’s take a look. Both situated in rural West Oxfordshire and just under 6 miles apart you’d think they’d be very similar. Start scratching beneath the surface and some key differences start to appear: Continue reading “A Tale of 2 Towns – an in-depth look at the West-Oxfordshire Property Market”

House prices are set to grow by 3.4% in 2017

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The OBR (Office for Budget Responsibility) predict that house prices will increase by 3.4% during 2017. This would make the average home across England and Wales £236,890 by the end of the year, a rise in value of £7,789. Continue reading “House prices are set to grow by 3.4% in 2017”

Looking back – Witney property prices have performed well above average in recent times

I recently wrote about the benefits of living and working in West Oxfordshire and, in particular, Witney. I thought it would be worth reflecting on how the property market has performed and look in detail at the Witney market. Over the last 10+ years, it’s unsurprising that the South-East has been the best performing region excluding London: Continue reading “Looking back – Witney property prices have performed well above average in recent times”

National Sales & Lettings Report

For a free copy of the very latest sales and lettings report, please click the link at the bottom of this post. The national report covers:

  • Overview of sales and lettings markets
  • Latest statistics on rent values and tenant demographics
  • Landlord sentiment post-Brexit and Stamp Duty reform

We hope you’ll find this to be an interesting and informative read. Don’t forget our latest Cotswold report is packed with local information to help you navigate the property maze.

LATEST SALES & LETTINGS REPORT

We look forward to hearing from you

Brendan Kay
Managing Director – Martin & Co Witney and Cirencester
brendan.kay@martinco.com

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Local Perspective on the Property Market

20161012-img_0068The historic Witney Blanket Hall was a stunning backdrop for the second Witney Property Seminar hosted by a range of locally based, professional businesses with experts in law, mortgages, tax, insurance and property. Continue reading “Local Perspective on the Property Market”