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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.

Strong demand for rental property

Demand from tenants in Witney has been exceptionally strong over the last 12 months (see graph). After an initial dip around the start of the pandemic, the number of tenant phone calls and emails we received surged when the housing market re-opened last May and demand has remained consistently high.

Office Manager Stacey Mole says, “Properties in good condition are being snapped up across Witney and the surrounding villages, and demand is consistently high for all sizes and types of property. Whether it’s a family home in a village or a town centre apartment, we are being flooded with enquiries as soon as we list some properties, and supply is struggling to keep up.”

The result is that, across all of our offices, some properties are receiving multiple applications and many are letting extremely quickly, for example:

Let Within An Hour
The owners of a modern 2 bedroom house on the popular Buttercross development (main photo) decided to put the property up for sale at the start of 2021. The sale fell through so they came back to us to try letting it out again. Knowing that demand for this type of property was strong, we proposed a rent increase of 4.88% to £1,075 pcm. We listed the property and a let was agreed one hour later to a single professional tenant relocating to the area. The landlords were delighted.

Modern, high quality property around Witney town centre is always popular – particularly at the moment. If you want to discuss your property, call Stacey on 01993 700150.

Property. Properly.
t: 01993 700150