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Danny Kelly is a Estate Agent based in Bicester. This blog is about the property market and the latest property news. Find out more about investing in rental property in the below article.
The property market in Bicester and Oxfordshire can serve as a microcosm of the state of the housing market in the UK. Oxfordshire is lucky enough to have the pull of one of the best universities in the country. People are also noting the fact that it provides an easy access to London. Add to that the stunning scenery it offers and it is no wonder how it has remained one of the most sought-after property markets in the country.
It is also a fact though that availability can become an issue in this part of the country. Regardless of whether you are a first-time house owner or a landlord looking for a potential property to let, it may prove to be a real challenge to find an available property in the area thanks to the all-time high interest among buyers. Still, it has been predicted that the county is going to retain not only the value of its properties but also that it will be able to weather the storm in the property market as a result of the Brexit move. Despite the issues concerning availability, it is quite a fact that the property market in the county is quite in such remarkable good health.
There are a number of factors that fuel the housing demand that has been retained in Oxfordshire. The two universities that are situated in the county, which also happen to consistently land in the top 10 across the world means that it is a place that continues to attract not only students but also staff and post-grads from all over the world. This can lead to the creation of companies that can lead to the creation of more employment and even higher demand for housing.
The county is known for its strong economics. It does not hurt too that it is nestled in a location where two of the major cities in the country are quite accessible from- Birmingham and London. It is the perfect commuting base where both of these cities are only just an hour away.
Many buyers are also attracted to its countryside. It boats some of the most beautiful villages in the country, which makes it the perfect escape for those that want to get away from the city. The low crime rate in the area means that it has become one of the top lists of locations that many a family would want to settle in.
According to the data from the Strategic Market Housing authority, there is a need for 106,500 more new homes in the county by the year 2031. This is approximately 5000 new homes built every year. However, it should be noted that these new homes are not being built at the moment and this is due to some limiting factors. For instance, most of the land in the country is protected which can hinder the creation of new housing. Many views in Bicester and Oxfordshire are protected as there is a need to protect its substantial tourist trade and medieval heritage.
All in all, though, this has contributed to a strong growth in the capital as well as in rental property. The fact that there is a short supply of property while the local economy has remained strong will continue to be a driving factor why this will remain a very conducive location for those that would want to profit considerably from buy-to-let properties.
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