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?
Source: Homelet Rental Index (January 2017 data)
The chronic shortage of housing supply in the UK relative to demand has been a national issue for decades. The Government are committed to delivering a million new homes by 2020. Yet with limited land availability, rising costs and shortage of skilled labour the government and the house building industry need to become innovative with regards to how housing is built if those targets are to be met. Continue reading Is building homes in factories the solution to the UK housing crisis?
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
The balance of new build flats and houses swings dramatically over time at the national level. While we would expect to see differences between localities based on their size, setting and the dynamics of their local population the impact of government policy on the type of homes we build is highly significant. Continue reading The Impact of Building Houses vs Flats
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
- Supply – put simply, there aren’t enough houses being built locally. The Local Plan has identified that c.660 new homes need to be built in West Oxfordshire every year until 2031 but there have been fewer than this built over the previous years and there is no prospect of this changing in the immediate future. Did you know – West Oxfordshire is the second most sparsely populated district in South-East England!
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.
Since late last year there have been various legal changes in terms of the provision/testing of alarms and monitors in residential rental properties. These changes include the following:- Continue reading Smoke Alarms…Is your rental property compliant?
From 2018, the legal requirement for all privately rented properties in England and Wales will be to have an EPC rating of E or above. Continue reading Will you need to spend an extra £5000 to make your rental property legal?
There’s an awful lot going on currently as the next iteration of the Local Plan 2031 continues to take shape. This will impact the delivery of housing in Witney and West Oxfordshire from the immediate term and into the future. Witney itself has more than doubled its population in the last 30 years with significant extensions to the north, west and east of the town. Continue reading Witney & West Oxfordshire Housing Development Update
I saw an article recently highlighting the most active housing markets in the UK and this made me wonder how Oxfordshire and the surrounding areas compared.
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.
We look forward to hearing from you
Managing Director – Martin & Co Witney and Cirencester
The 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
See below how average Witney property prices compare to the South East average. If you would like to see many more interesting stats about Witney property as well as nationally, click here.
A recent news article from the BBC highlighted the issues surrounding housing affordability around the country. We’ve extracted the local information to build a local picture for ease of reference. Experts recommend spending no more than 30% of your salary on housing which is where the ‘affordability’ figure comes from:
The latest of which is the lowering of the interest rates in August by the Bank of England. Whilst the impact will only be felt by savers or those lucky minority with a tracker mortgage without a collar, the big question is likely to be the effect on house prices: