OXFORD PULSE
‘British demand is still prevalent but we have seen an increase in
enquiries from American and former Eastern Bloc
nationals.’
TESSA CARNEGIE GARRINGTON
Tim Hammond, Director of The Buying
Agents says, “Our clients vary from professionals such as doctors and academics relocating to Oxford, and expats who are returning to Oxford, as well as first time buyers. But the majority are time- poor couples who want us to find them a family home in the area, perhaps moving out from London to set up their family home”. They have seen a dramatic increase in people seriously looking to buy but cannot find what they are looking for, hence they turn to The Buying Agents. “The time to find and buy a house has increased and the process is too intensive for busy professionals to do themselves.” Another firm providing property search
services is Garrington. Tessa Carnegie says, “Our client base consists of high net worth individuals searching for their main residence or second home. Those buying in the Home Counties tend to be relocating from London or moving within the county for reasons such as schooling. British demand is still prevalent in Oxfordshire however we have seen an increase in enquiries from Americans and former Eastern bloc nationals.” Jonathan Bramwell says the majority
of his clients are still British, “but at Prime Purchase we have seen an increase in International buyers mainly from Europe and the Far East as they take advantage of the weak pound; however, most of this investment is going into prime central London.” The Oxford housing market has
‘At the end of 2008 we had 56 properties
available to rent. At the end of 2009 we had 75... virtually all student
homes.’ BOB URWIN MARTIN & CO
£3,500 PCM
Above: To let through John D Wood, a prestigious townhouse close to the Dragon School. Inset: For sale with John D Wood & Co., a period house overlooking the city gardens.
PROPERTYdrum MARCH 2010 27
£499,995
Connells offer this home and Guest House, with an attractive Tea Room in Bladon.
remained extremely active over the last few years, even in 2008 when other areas of the country had slowed significantly. Jessica Hardwick, Area Sales Director, Connells says, “Now, we are seeing a large proportion of first-time buyers entering the market despite Oxford being priced slightly higher than other areas. This may be down to vendors becoming more savvy when it comes to marketing and pricing their properties, offering things like five to ten per cent deposit paid in a bid to attract these buyers. It may also be due to parents helping their children buy their first property, which we are also seeing more and more”.
West Hanney, auctioned by Carter Jonas in excess of the guide price of £700,000.
TENANTS AND INVESTORS
Bob Urwin, MD, Martin & Co. Oxford, says the demand for rented homes comes from all types of applicant – single professionals and couples, academics, students (UK & International, particularly from the Middle East) and families. Investors are buying too, “At the end of December ’08 we had 56 properties available to rent and at the end of December ’09 we had 75. Virtually all of the increase related to new student properties taken on. Jessica Ashley, Residential Sales
Manager, Allen & Harris, agrees, “Oxford has a lot of investors so they like run down rental properties, generally every property sells very quickly.” This is a sentiment echoed by Jan
Bartlett of Premier Lettings who finds that their clients; one-off landlords as well as those with large portfolios see Oxford as a great place to invest, “Currently there is a large demand for sensibly priced modern apartments, with 2 bedrooms, presented to a modern standard. Their tenants will be professional sharers, couples and overseas workers here to fill vacancies in our catering and IT sectors.”
DEMAND OUTSTRIPPING SUPPLY
In Oxford, there is never enough housing to meet demand and the lack of available property has driven up prices. William Kirkland, Manager of John D Wood & Co’s Oxford office, comments, “Anyone spending more than £600,000 wants to live in central north Oxford, due to its convenience for the city centre and the
£1.35 MILLION
£1.25 MILLION
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68