LETTING & ESTATE AGENT

Rents continue to climb in Central Oxford

Rents continue to climb in Central Oxford

Richard Goodwin, Lettings Manager of Martin & Co Oxford, writes:

A landlord of mine who has owned a few properties on Empress Court for the last eight years came in to our office to discuss the rise and fall of property prices on the street and how this has affected her yield over the years.

In 2006, when she purchased her first property on Empress Court, the average value of a one bedroom apartment was £210,000 which had a sharp rise to £235,000 by 2009. This rise in value continued, with average values being £275,000 in 2011 and £300,000 in 2014.

The average price for an apartment in this location in 2014 stands at £370,000. Going back 5 years the average value was £255,000 showing an increase of £72,000 in the last 5 years. Not too shabby.

Then we look at the rent she achieved. The apartment was achieving a rent of £975 per calendar month in 2006. In 2008 this had risen to £1050, with a continued increase of £1125 in 2011 and currently sitting at £1225 in 2014. Therefore, a landlord could expect a respectable annual yield of between approx 5-6% for their investment.

If you would like some advice with your potential investment, please come and see us in our office on Woodin's Way, Paradise Street.

Best regards

Richard