August 2022 Market Report for North Oxfordshire and South Northants

August has been a month of extremes: a heat wave, first holidays abroad in 2 years, and constant talk of the cost of living increases. This is causing widespread worry, which is an uncomfortable feeling for many. 

It’s also causing people to reassess their lifestyles and make changes where they’re able. Many people are considering downsizing in order to reduce their bills.. The property market continues to move, as it always will, with families growing, people passing away, and moving jobs.  

It’s been an extremely busy month in the lettings market in North Oxfordshire and South Northamptonshire. Let’s briefly examine the local rental market facts and figures, which cover both long- and short-term lets.

Across North Oxfordshire and South Northamptonshire, there are 1,193 rental properties currently available. This is a decrease from last month when there were 1,393 and in June when there were 1,725. There were 301 new rental properties that became available over the last 14 days. 

There are some differences between the areas. In North Oxfordshire, the average rental price is £2,260 pcm, compared to £994 pcm in South Northants. In North Oxfordshire, there are 142 properties available in the £500 - £1000 pcm bracket, with 245 available in South Northants. In the £1000 - £2000 pcm price band, there are 324 available in North Oxfordshire and 128 in South Northants.

In North Oxfordshire, there are 185 properties available that have 2 bedrooms. This has decreased from 250 last month. when they achieved an average rent of £1,661 pcm. In June, they achieved an average rent of £1,661 pcm, in July they achieved £1,691 pcm, and in August £1,731 pcm. 

There were 155 available with three bedrooms, achieving an average rent of £2,202 pcm, in June. In July, there were 211 three-bedroom rentals available, with an average rent of £2,179. In August, there were 202 three-beds with an average rent of £2,118 pcm.

In South Northants, there are 159 two-bedroom properties available, compared to 172 in July and 118 in June. They received an average rent of £898 in August, £926 pcm in July, and £883 pcm in June. 

There were 99 three-bedroom properties available in June. They were achieving an average rent of £1,091 pcm. In July, this number had increased to 156 with an average rent of £1,159. In August, there were 166 and an average rent of £1,120.

If you’re looking for further information about the North Oxfordshire or South Northamptonshire property market, please feel free to contact us. If you’re thinking of 

letting or renting property in this area, please don’t hesitate to get in touch. You can call 01869 337346 or email ask@cherry-lets.co.uk.