The average Bicester rent is £1,079 pcm

By 26/04/2018News

The rents paid by Bicester tenants are now standing at £1,079 per calendar month (pcm), a rise of 0.45% year on year and 0.55% higher month on month.

However, this attention-grabbing monthly rent figure masks stark differences in the various different parts of the Bicester rental market.  Demand in Bicester for high quality family homes with two or three bedrooms in good catchment areas for schools remains really robust.  Other influencing factors that make certain areas popular are the proximity to transport links. However, I have noticed a drop in demand and rents achieved for property where the landlord hasn’t kept the property in good order in terms of decoration, carpets, windows and heating systems

So, what does all this mean for Bicester landlords and tenants?

With the new tax rules for landlords, many believed that the number of rental properties would narrow throughout 2017, as landlords sold up their Buy to let properties and looked to invest their money elsewhere, but evidently this hasn’t happened.  Feasibly Bicester landlords are re-mortgaging their Bicester buy to let properties instead, as they still believe it’s a safer investment than looking, say at the stock market?

However, demand remained strong in 2017 for Bicester private rental properties, meaning the rents being achieved were at a decent level for landlords. Keeping your outgoings low is also an important consideration. There are high street lenders offering a 5-year fixed rate buy to let mortgage for 2.17% based on a 60% loan to value – this is cheap money!

Looking at property values in Bicester, over the last 12 months and specifically at the lower of the market where buy to let landlords tend to buy their rental properties.  Flats/apartments have risen in value by 0.57% whilst terraced properties have risen by 0.81%.

Some Bicester landlords have seen the yields they are achieving remain squeezed.

However, most landlords can start to feel assured that as capital growth in Bicester remains at a more realistic figure which is good for long term stability and long-term rents are on the rise, the overall corresponding annual return on investment (annual ROI being annual capital + annual yield) has stabilised in all areas and is now starting to grow.

With additional people seeing renting as a long-term option, even with the challenges of the new tax regime, Bicester landlords, with the support of a good advice and opinion, should continue to see renting as a good investment vehicle.

As always feel free to contact me if you require any advice about any property related matters.

Author Michelle Niziol

Founder and CEO of IMS Lettings Solutions limited, she is recognised as one of the UK's current property and finance specialists with columns in many industry magazines including 'What Mortgage' and is a regular commentator for The Daily Mail, The Telegraph, Financial Times, The Guardian and Oxford Mail. In June 2017 she took on the role of Vice President of ARLA, this is a 3 year term, in the 3rd year she will become the President, she is looking forward to making a difference in the lettings industry, an industry she has always been so passionate about.

More posts by Michelle Niziol

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