TheRegions
Regional round-up
Each month we visit three agents across the country to discover what’s happening in their business and local market. This month we’re in Oxford, Kent and North Yorkshire.
Lizanne Simmons
is an assistant manager at Penny & Sinclair which has two branches in Oxford.
“The North Oxford market has always bucked the national trend and tends to follow many areas of London. The highly sought-after schools, the proposed improved links to the rail lines to London and the Universities continue to keep demand for the area extremely high. Summertown and Central North Oxford off er city life, on the doorstep of many of these schools with the countryside and River Thames a short walk away. “We regularly do off market
deals for £1.5m+ properties. There is such a huge demand for this type of house that
34 ● July 2012 ● TheNegotiator
properties sell at the guide price, or in excess of it, without being openly marketed. We match our applicants’ requirements with appropriate properties; just like estate agents used to before the internet. “We have introduced holiday lettings to our business and this has now grown to over 50 per cent of the lettings stock – these short lettings command an average of £1,500 per week and are in demand as an alternative to hotels: This market continues to grow. “More than half of our recent sales were agreed in excess of the
guide price; with one achieving £100,000 more. The bidding wars are a clear indication of the imbalance between supply and demand and increasing market confi dence. “The overall economic uncertainty has led to an increase in sales for buy to let purposes with many buyers saying that they are confi dent investing their money in bricks and mortar. Rental prices are increasing in Oxford and this, combined with the introduction of HMO licenses, has prompted more parents to purchase houses for their student off spring.”
www.thenegotiator.co.uk
Oxford
These fi gures relate to the 1st three weeks of May: Average sale price: £650,000 Average fee: 1.5 per cent Viewings: 100 Sales: 15
Average lettings per month: £2,000
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