The tide is turning…
We went through the doldrums across the summer with a general shortage of stock of rental property. Over the last few weeks the tide has definitely turned and the phones have been red hot with people ringing up with houses to rent in Oxfordshire. It seems to be two main groups of landlords at the moment:
1. Those who can’t sell and don’t want their houses empty over winter; and
2. Homeowners who are leaving the country (we can think of 3 landlords who have left for Australia in the last month alone) and want the peace of mind of having their houses looked after properly whilst they are thousands of miles away.
The redevelopment in Bicester town centre is delayed yet again with problems over land ownership. It looks likely that compulsory purchase orders will be made to achieve the objective but once complete it will rejuvenate the town and bring us into line with other recently improved market towns such as Witney.
The new Kingsmere development is rising out of the fields between Bicester and Chesterton – no houses yet but the drains are going in and there is a brand new roundabout nearing completion just off the Middleton Stoney Road. It’s an exciting project and no doubt there will be some significant opportunities for buy to let investors – watch this space!