Restored rail link to boost Oxford buy-to-let investment?
Posted by Gary Winter
Buying to let in Oxford could see a rise in popularity among landlords following the announcement of plans for a new rail link to the city.
In yesterday's (November 29th) Autumn Statement, chancellor George Osborne confirmed that the government is to go ahead with plans for a new £270 million east-west rail link between Oxford and Bedford.
The new line is part of a long-mooted plan to restore the 'varsity link' between Oxford and Cambridge, which was withdrawn in 1967.
It is likely to provide fast rail services from Oxford to Bicester, Leighton Buzzard, Milton Keynes and Bedford and could eventually run all the way to Cambridge.
The move could vastly improve Oxford's transport links with other hubs in the region, which could make the city a more attractive place to live and from which to operate a business.
This could in turn boost demand for property in the area making Oxford buy-to-let properties a more attractive investment.
It is estimated that the project could create around 12,000 jobs, further benefitting the city.
Speaking ahead of yesterday's confirmation of the new rail link, chairman of Oxfordshire County Council's transport committee David Robertson told the Oxford Mail: "This will be great news if confirmed.
"I was at a meeting of the all-party transport group at Westminster last week and I heard very positive views from a wide cross section of people all keen to go ahead."
It follows the recent news that train operator First Great Western has agreed a deal to increase capacity on services between Oxford and London.
The Oxford Times reported that the move is likely to bring an extra 1,200 seats to services between the university city and the capital during peak-time morning and evening journeys, helping to make Oxford a more convenient place to live for those commuting to work in London.
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