Summer is here…for the Oxford letting market!
Nationally, the rental market is very seasonal. This is even more evident in Oxford due to the influence that the University has on the micro-economy. The start of the summer market is here and it is an exciting time.
Households tend to move primarily in the months of May to September. Children are on school holidays for the majority of this time and the weather is better, which makes moving easier.
If you add to this that the academic turnover takes place between June and September and that the greatest proportion of graduate schemes start during the summer it is easy to see why these months are the busiest for the rental sector.
Forward planning is the key to maximising on this. Prospective tenants look for new properties up to 3 or 4 months in advance and our properties will be advertised 2 to 3 months in advance. So whether you are looking to rent or have a property to let out, you need to start planning for the summer.
This week in North Oxford we have let 7 properties within short walking distance of the University departments to good quality applicants who want to live in a convenient location in quality properties and are willing to pay the premium associated. Now is time to act on this in order to secure the best quality tenants at the highest rent possible.