Which houses are actually selling in Bicester?

By 12/04/2018News

Beast from the East, Russia, Facebook, Brexit, Trump, house prices up, house prices down, the press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting the property market. Talking to my fellow property professionals from around the UK in a recent meeting, the one thing that is immediately apparent is the UK property market is vastly different depending on your location. There are lots of small property markets all performing in different ways.

That made me think, does the same rule apply in an individual town, is there just one Bicester Property Market or many?

I like to keep an eye on the property market in Bicester on a daily basis because it enables me to give the best advice and opinion on what to buy in Bicester.  So, I thought, how could I split the Bicester housing market into segments so I could see which part of the market was performing the best and the worst.

I decided I would split the Bicester property market into four equal size price bands. Each price band would have around 25% of the property in Bicester, from the lowest in value all the way through to the highest 25% in terms of value, the Upper Quartile. Looking at the market, I have calculated that these are the price bands in Bicester are as follows:

  • Lowest Quartile (lowest 25% in terms of value) … Up to £260,000
  • Lower/Middle Quartile (25% to 50% Quartile in terms of value) … £260,000 to £325,000
  • Middle/Upper Quartile (50% to 75% Quartile in terms of value) … £325,000 to £400,000
  • Upper Quartile (highest 25% in terms of value) … £400,000 Upwards

So, having split the Bicester Property Market approximately into four equal sizes, the results in terms what price band has sold the most is quite enlightening.

Bicester  Available Sold STC % Sold
Up to £260,000 79 62 44.0%
£260,000 to £325,000 107 57 34.8%
£325,000 to £400,000 104 56 35.0%
£400,000 Upwards 121 72 37.3%

The best performing price range in Bicester is the lower market. Interestingly for landlords, the lower end of the middle market isn’t selling as well as other sectors, so maybe there could be some bargains out there for buy to let investment? Even though the number of first time buyers did increase in 2017, it was from a low base and the vast majority of 20 something’s cannot buy, so need a roof over their head (hence the need to rent somewhere).

 

It is a fact that Bicester’s housing markets have ridden the storms of oil crisis in the 1970’s, the 1980’s depression, Black Monday in the 1990’s, and latterly the credit crunch together with the various house price crashes of 1973, 1987 and 2008. No matter what happens to us, Brexit or anything else, unless the Government starts to build hundreds of thousands extra houses each year, demand will always outstrip supply, so maybe a time for Bicester landlord investors to bag a bargain?

Do you want to know where those Bicester buy to let bargains are?

Follow our BICESTER PROPERTY NEWS blog or drop me an email because irrespective of which estate or letting agent you use, I am happy to share my views with you.

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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