Whether we are home owners or investment buyers, there is one question that continually resonates with us all, which is of course, “How much is my property worth?”
Although this article offers a brief insight for both home owners and investors, as Lettings Manager at Martin & Co Oxford, I find my attention swaying slightly to investment purchasers (hmmmm, strange that!) and how this information may serve them best when plotting their next move.
So, picking an area to look at, I chose good old OX1 and focused my attention solely on flats and apartments for my research. This is what I found out.
The average price of property in this area currently sits at £304,000. Using my trusty Tardis, I decided to revisit the last 5 years to see how prices have changed in this location for these properties.
- 5 years ago - £227,000
- 4 years ago - £260,000
- 3 years ago - £263,000
- 2 years ago - £270,000
- 1 year ago - £280,000
- 6 mths ago - £300,500
From 2009 to the present day, the housing market has seen some tricky moments. Even now we find ourselves in 'recovery'. One thing that does appear certain is that some areas, notably OX1, just keep on going and from a capital growth perspective still represent a fantastic return on investment.
At Martin & Co Oxford, we hear about great investment properties, often before they come to market. We can give you examples of where we have saved landlords thousands of pounds by taking our advice.
If you would like to compare capital growth on your property, or talk about property hot spots or yields, then I would welcome your call on 01865 812110. Maybe you would just like some general investment advice which I'd also be happy to help with. Alternatively you can visit me in my offices at Martin & Co, 31 Woodins Way, Paradise Street, Oxford, OX1 1HD.