October 2022 Market Report for North Oxfordshire and South Northants

The leaves are falling, the clocks have gone back and children, still hyped-up on sugar from their Halloween trick or treating, are now looking forward to this weekend’s fireworks displays. November brings with it darker mornings and chillier nights and so comes thoughts of Christmas and the New Year. This inevitably focuses the minds of those who have been considering moving, as they consider whether their homes are too small or indeed too large for their needs. 

The looming New Year sparks thoughts of new beginnings and new homes so, despite the doom and gloom in the papers, life continues. People still move home and the lettings market continues to be busy.

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 1,413 rental properties currently available. This is an increase from last month when there were 1,200 and in August when there were 1,193 available. There were 381 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 £1,253 pcm, compared to £1062 pcm in South Northants. In North Oxfordshire, there are 147 properties available in the £500 - £1000 pcm bracket, with 275 available in South Northants. In the £1000 - £2000 pcm price band, there are 379 available in North Oxfordshire and 153 in South Northants.

In North Oxfordshire, there are 229 properties available that have 2 bedrooms with an average rent of £1,604 pcm. In September there were 216 and they achieved an average rent of £1,731 pcm. 

In October there were 167 three bedroom properties available in North Oxfordshire and they achieved an average rent of £2,072 pcm. In September there were 150 and they achieved an average rent of £2,202 pcm. In August, there were 202 three-bedroom rentals available, with an average rent of £2,118. In July, there were 211 three-beds with an average rent of £2,179 pcm.

In South Northants, there are 134 two-bedroom properties available, compared to 139 in September and August, and 172 in July. They received an average rent of £950 in October,  £897 in September, £898 in August and  £926 pcm in July. 

There were 156 three-bedroom properties available in July. They were achieving an average rent of £1,159 pcm. In August, this number had increased to 166 with an average rent of £1,120. In September, there were 144 and an average rent of £1,129. In October this number increased again to 174 with an average rent of £1,156 pcm.

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.