- 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.
The latest data from the ONS suggests that the volume of property transactions in Oxfordshire have plummeted. 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”
As 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”
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”
On 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 would like to download the slides from the presentation, you can do so here – http://bit.ly/seminarslides
Ten years on from the housing crash and it’s worth taking stock and looking back. Counter-intuitively, in 58% of wards, residential properties are selling for less now, after accounting for inflation, than they were in 2007. Continue reading “Rose Tinted Spectacles? Looking back at the crash…10 years on”
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
- 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.
Landlords who own four or more mortgaged buy-to-let properties can soon expect lenders to look across their whole portfolio if they want to apply for a mortgage on a new property.
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?”
In their election rhetoric all the political parties informed us that the UK is experiencing a ‘housing crisis’, with all promising to deliver an additional million homes by the end of 2022. But what homes are needed and for whom? Here we look at one specific and growing market, the retirement generation.
Martin & Co Birmingham are currently working with a developer and have 33 one-bedroom apartments available to offer to our landlords.
Prices are £65-£70k with expected returns of 6.4-8.75%
For further details, CLICK HERE
Call us on 01993 708638 to register your interest.
There are many elements that go into making great property photography; the weather, equipment, the skill and experience of the photographer. But, did you know that there many ways you can increase the chances of achieving fantastic images of your home? You need to ensure the images of your house not only do it justice, but also, more importantly, indicate the kind of lifestyle that a buyer can aspire to. Here are some of our suggestions to do just that:
The Office of National Statistics (ONS) have just released their latest figures regarding housing affordability ratios. These are calculated by dividing house prices by gross annual residence-based earnings and can be used to track how affordable average homes are across Oxfordshire. Continue reading “How has the affordability of Oxfordshire housing changed over the last 14 years?”
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”
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”
Over the last five years, house prices in Witney have grown 37%!
Click here to see MORE of the latest trends in the UK housing market, with a detailed focus on Witney.
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”
For the full report on market trends, average values in Witney over the last 12 months and what the sales market has been up to most recently, click here.
If you would like to speak to one of our experienced staff for some exert advice, please call us on 01993 708638.