I have been asked a number of times recently what a hard Brexit would mean to the Bicester property market. To be frank, I have been holding off giving my thoughts, as I did not want to add fuel to the stories being banded around in the national press. However, it’s obviously a topic that you as Bicester buy to let landlords and Bicester homeowners are interested in … so I am going to try and give you what I consider a fair and unbiased piece on what would happen if a hard Brexit takes place in March 2019. Read More
All the latest property news and insights straight from the Bicester property experts.
There is no escaping the fact that over the last couple of decades, the rise in the number buy to let properties in Bicester has been nothing short of extraordinary. Many in the press have spoken of a broken nation, the fact many youngsters are unable to buy their first home with the rise of a new cohort of younger renters, whom have been dubbed ‘Generation Rent’ as landlords hoover up all the properties for their buy to let property empires.
Government has been blamed in the past for giving landlords an unfair advantage with the tax system. It is also true many of my fellow professionals have done nothing to avail themselves in glory, with some suspect, if not on some rare occasions, downright dubious practices.
Yet has the unfair criticism of some Bicester landlords gone too far? Read More
It’s been nearly 18 months since Sajid Javid, the Tory Government’s Housing Minister published the White Paper “Fixing the Broken UK Housing Market”, meanwhile Bicester property values continue to rise at 8.5%. Read More
The simple fact is we are not building enough properties! If the supply of new properties is limited and demand continues to soar with heightened divorce rates, people living longer and continued immigration, this means the values of those existing properties continues to remain high and out of reach for a lot of people, especially the blue collar working families of Bicester. Read More
A noteworthy number of buy to let landlords in Britain plan to buy more properties over the next year despite the recent changes in the private rented sector. According to Aldermore, the specialist Buy To Let lender, their research shows around 41% of portfolio buy to let landlord’s objective is to grow their buy to let portfolio (i.e. Portfolio landlords are landlords that own more than one property).
So, I thought, “Are Bicester landlords feeling the same?” If so, if these numbers were applied to the Bicester private rental market, what sort effect would it have on the Bicester property market as whole? Read More
Nearly 5 babies have been born for every new home that has been built in Cherwell since 2012, deepening the Bicester housing shortage. Read More
The average asking price of property in Bicester dropped by 4.1% or £15,493 compared to a year ago, taking the current average asking price to £360,411 compared with £375,904 this time last year. Read More
Bicester Millennials were born between the mid 1980’s and late 1990’s thus making them between the age of around 22 to late 30’s. They are the imaginative, artistic youngsters who grew up with the newest technology such as iPhones, iPads and who are partial to music festivals, Nando’s, emoji’s, selfies and old school nostalgia. Read More
The rents paid by Bicester tenants are now standing at £1,079 per calendar month (pcm), a rise of 0.45% year on year and 0.55% higher month on month.
However, this attention-grabbing monthly rent figure masks stark differences in the various different parts of the Bicester rental market. Demand in Bicester for high quality family homes with two or three bedrooms in good catchment areas for schools remains really robust. Other influencing factors that make certain areas popular are the proximity to transport links. However, I have noticed a drop in demand and rents achieved for property where the landlord hasn’t kept the property in good order in terms of decoration, carpets, windows and heating systems
So, what does all this mean for Bicester landlords and tenants? Read More
As I have mentioned before in my blog, with not enough new-build properties being built in Bicester and the surrounding area to keep up with demand for homes to live in, it’s good to know more Bicester home owners are putting their properties on to the market than a year ago.
At the start of 2007 there were 256 properties for sale in Bicester but by March 2008, when the credit crunch was really beginning to bite, that number had risen to 530 properties on the market at a time when demand was at an all-time low, thus creating an imbalance in the Bicester property market. Read More
Beast from the East, Russia, Facebook, Brexit, Trump, house prices up, house prices down, the press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting the property market. Talking to my fellow property professionals from around the UK in a recent meeting, the one thing that is immediately apparent is the UK property market is vastly different depending on your location. There are lots of small property markets all performing in different ways.
That made me think, does the same rule apply in an individual town, is there just one Bicester Property Market or many? Read More
The degree to which young Bicester people are locked out of the Bicester housing market has been revealed in new statistics.
I was chatting to one of my landlord’s last week about how the homeownership rates in the early-middle aged adults in Bicester had affected the demand for rental property in in recent years. I knew that it was affecting the Bicester rental market, but to what degree I wasn’t quite sure. So I promised the Landlord some facts to back up my thoughts. I like a challenge and I thought I’d share what I found.
Buying and selling a home in Bicester isn’t the easiest or cheapest thing you will ever do. Estate agent fees, solicitor’s fees, survey fees, mortgage fees, removal costs, the costs quickly mount up. Last week, a local landlord asked me whether the council tax band made a difference to a property’s appeal, whether it be to sell or rent and also raised an interesting question about whether an extension or home improvements made a difference to the amount of council tax you pay?
When buying or renting you should always be clear on what the council tax band will be for your new property. But what exactly are council tax bands, and how do they affect landlords/tenants/homeowners?
A little bit of good news this week on the Bicester Property Market as recently released data shows that the number of first time buyers taking out their first mortgage in 2017 increased more than in any other year since the global financial crisis in 2009. The data shows there were 205 first time buyers in Bicester, the largest number since 2006. Read More
As our families grow bigger the need for more space, be that bedrooms or reception rooms, has grown with it. Also, as our older generation lives longer and nursing home bills continue to rise quicker than a rocket on the 5th of November (the average nursing home bill in the area being £954.58 per week) many families are bringing two households into one larger one.
So, should you move somewhere larger, or extend your Bicester property to make it large enough for you and your family? Read More
According to the National House Building Council (NHBC), more than 26,142 new homes were registered to be built in the South East last year, on par with 2016 levels of 26,147 dwellings. Great news when you consider it is one of the highest number of new builds in the region since the pre-recession levels of the Credit Crunch and the uncertainty of Brexit and the General Election.
So, when a landlord recently asked me why the brand-new property she was considering buying was a lot more expensive compared to a second-hand/existing property of similar type, accommodation, location and structure I thought this would make a fascinating topic to do some homework on…..homework I want to share with the homeowners and landlords of Bicester. Read More
I’ve picked out this gem of a potential buy to let deal in Langford Village, Bicester. It’s a two bedroom property with conservatory and en-suite to the master. It needs a little bit of TLC, a lick of paint to neutralise the walls and new carpets to the living room and bedrooms, then it will rent all day long at £925 pcm. It’s on the market with Barton Fleming for £250,000, which provides a gross rental yield of 4.44% assuming no negotiation on the asking price.
Here is the link http://www.rightmove.co.uk/property-for-sale/property-71758538.html
That got your attention … didn’t it!
But before we start, what is Generation X, let alone Generation Z, Millennials, Baby Boomers … these are phrases banded around about the different life stages (or subcomponents) of our society. But when terminologies like this are used as often and habitually as these phrases (i.e. Gen X this, Millennial that etc.), it appears particularly vital we have some practical idea of what these terms actually mean. The fact is that everyone uses these phrases, but often, like myself, they are not exactly sure where the lines are drawn …until now…
Yes, I said ‘rentirement’, not retirement … rentirement and it relates to the 254 (and growing!) Bicester people, who don’t own their own Bicester home but rent their home, privately from a buy to let landlord and who are currently in their 50’s and early to mid-60’s.
The truth is that these Bicester people are prospectively soon to retire with little more than their state pension of £155.95 per week, probably with a small private pension of a couple of hundred pounds a month, meaning the average Bicester retiree can expect to retire on about £200 a week once they retire at 67.