Most weeks, my articles on the Banbury property market tackle some of the big issues about the local property market, such as the lack of new homes being built in Banbury, the trials and tribulations of being a Banbury buy-to-let landlord and the future of the Banbury property market .. yet in this article, I wanted to give you some fun facts about the Banbury property market – which is the largest street in OX16 by the number of properties on it?
The biggest street in OX16, when it comes to the number of houses on it is Bretch Hill, with 434 homes. In second place is Britannia Road with 330 homes and in third is Warwick Road with 329 homes.
Not surprisingly, the most valuable street of the top 20 biggest streets is Bretch Hill at £78.6m with an average value of £181,000 per property.
The street with the greatest number of movers in the last 3 years is Britannia Road, yet its saleability rate was only 13.0%, with Marshall Road having the highest saleability rate of 19.1%.
Yet, on a more serious note ..
The basic rudiments of the Banbury property market remain principally healthy in many parts of Banbury, yet the existing political environment means that the vital element of confidence has been diminished slightly in certain parts, and that is triggering a minority of potential property purchasers and house-sellers to vacillate, yet with unemployment at an all-time low, a record number of people with a job, ultra-low interest rates and decent mortgage availability (with the Banks and Building Societies tending to drop mortgage rates instead of increasing them), those Banbury first time buyers (and especially Banbury buy-to-let landlords) who have adjourned their next house purchase because of perceived political uncertainty should be reminded that talking to many of my fellow Banbury agents they have more homes on their books than at any time for the last three or four years, so there is a greater choice of Banbury properties to call your next home/BTL investment with a potential of securing a great property deal in the next month or so.
Irrespective of what happens with Brexit, Banbury people will still need a roof over their heads and as I have mentioned on a number of occasions, I have proved beyond doubt we aren’t building enough homes both locally in Banbury and nationally. If supply is limited and demand increases (as the population grows and we get older), prices in the medium to long term can only go in one direction. Upwards
So, whatever happens with BoJo and Brexit – why wait, because once we get over that hurdle, there will just be another hurdle and another hurdle and by which time – we will be in 2029 and you would have missed the boat. We survived the Global Financial Crash, 3-day week in 1970s’, hyperinflation etc etc … yet the choice is yours.