Rents have risen to a record high in the first three months of this year and property website Right Move reports that — for prospective tenants — this is the most competitive rental market it has ever recorded. There is currently strong demand from prospective tenants in the Banbury/North Cotswolds area. Some are wanting to…
In 1981, 26.1% of properties in Banbury (and the Cherwell District as a whole) were council houses. Today, that figure stands at 2.6%, a proportional drop of 90%. Why has the number of council houses dropped so much in those 40 years? How has that changed the dynamics of the Banbury property market in those…
897 properties have sold in the Banbury area in the last 12 months. It only takes 60 days to sell a Banbury home, so why does it take 106 days from the sold board going up to the buyer getting the keys? With a shortage of solicitors and a sub-standard conveyancing system, this article discusses…
The average time to find a buyer for a Banbury property reduced from 85 days in 2020 to 62 days in 2021. Yet still, just over 1 in 4 Banbury homeowners are on the market after 12 weeks. Why are so many Banbury homes still on the market after all that time, and what does…
How Will Rising Inflation Affect the Banbury Property Market in 2022? The UK is currently experiencing its highest inflation rate since the early 1990s. This increase in prices has primally come about by the combination of an increase in demand for goods and services from consumers following lockdown last year together with global supply chain…
1 in 63 homes are sitting empty in the Banbury area 1,078 homes in the Cherwell area are empty, which represents 1 in 63 homes. 503 of those have been empty for more than six months and are worth £174million. Why are those properties standing empty and deteriorating and why could that…
39% drop in the number of properties for sale in Banbury in the last 12 months. 249 Banbury homes have sold (stc) in the last three months alone, taking the time from the ‘for sale board’ going up to sale agreed to a median of 32 days. The £400k to £500k price range in Banbury…
Some Banbury landlords face bills of between £11,000 to £14,000 as Michael Gove, the Housing Minister, declared an attack on poor quality private rental homes. 914 Banbury rental properties will require upgrading. The Government announced in their ‘Levelling Up’ White Paper last week, they plan to introduce a new minimum standard for private rental properties. Also,…
Will Banbury OAP homeowners be forced to sell their home as their gas & electric bills are set to double in 2022? What can the 4,656 Banbury OAP homeowners do to mitigate this? What are their options if they do need to sell? And what will that mean for the Banbury property market as a…
The average house price in Banbury has increased by 178% to £372,000 in the last 20 years, a profit of £238,170 That means, when adjusted for inflation in those two decades, Banbury house prices have risen in real terms by 105.9% What does this mean for existing Banbury homeowners and first-time buyers trying to get…