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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.

Nothing will come of nothing…

Ambrosden cottage with a lovely walled garden

With all the current media hype about an over supply of property on the selling market and the lack of availability of mortgage finance,  we have been in touch with some of our Bicester Landlords who have been trying to sell over the summer months. It wasn’t overly surprising to hear that most have had only one or two viewings with prospective purchasers and in one case they have had no viewings at all in 8 weeks. Niet, nada, rien – whatever language you use it is still nothing (viewings or income)!

One such Landlord re-instructed us and we had the 4 bedroom detached house relet within 24 hours to an American gentleman on a 3 year deployment to the area. The house was perfect for him as he had a lot of furniture being shipped over from the USA and needed a house with the space to accommodate it all. The Landlord was delighted to be getting a good rental income again as she had been getting no income at all whilst it had been empty.

Another Landlord who had failed to sell his house has now decided to keep the property indefinitely as a pension for his family. The modern house, in Launton, was let by us on a company type let to a large family were looking for a substantial property to rent near Bicester with attached annexe – they were willing to pay a premium as not everyone would take such a large family (6 children).

We were in touch with another Landlord with a cottage in Ambrosden who had being trying to sell the property since the tenants left 6 weeks ago. He has decided, rather than leave the property empty, to relet the house and we have already had 3 viewings over the last weekend alone.

Genuinely, there are a lot of prospective tenants wanting good quality property to rent in Bicester right now and get settled before the schools start in September. Our advice is to beat the crowd and make a decision now, rather than wait for the inevitable rush of failed sales to pour back onto the letting market as late Summer/early Autumn turns to Winter.