The Market

Strong tenant demand leading to a shortage of rental properties throughout Oxford and the surrounding villages is a continuing theme for 2014. This is good news for landlords but has made life a little difficult for tenants looking for the right property to rent. The shortage of rental property has been driven by people looking to settle and rent longer term.

The factors influencing this most have been house prices, lenders’ higher deposit requirements for purchasing but also a lifestyle decision to rent rather than buy for many professionals.

Company relocations, families moving from London and good schooling continued to be the driving factors for the Oxfordshire letting market. A high percentage of tenants who have come from overseas to study or work.

The forecast
 
A shortage of supply will continue to push rents upwards across Oxfordshire between 2.5% and 5%. The highest rental gains will be found in Oxford City and particularly on properties that appeal to single or professional sharers in the rental range of 900 - 1200 per calendar month.

Tenants will continue to pay a premium of up to 10% for new build properties or those refurbished to a high standard. Average number of days from launching a rental property to going under offer is currently 21 days. Some properties that are available immediately in Oxford City can be let within hours once launched onto the market.