Oxford’s private rented sector (PRS) is suffering from an under-supply of properties, together with high inflation this is driving-up rents with tenants bidding against each other to secure the best properties.  This under-supply has been apparent for at least three years, albeit temporarily hidden by the pandemic lockdowns. The government asserts that it’s white paper which was published this week, will improve the market, making  life easier and fairer for tenants.  It is my belief that they are too late and the effect of these proposals will be to further worsen the supply cr ..read more

  Inflation is already at 6.2% and many economists are forecasting levels above 10% for as long as the next 2 years.  Important lessons can be drawn from history, and Oxford landlords should take the following action without delay: 1.       Those with a buy to let mortgage should re-finance to secure a fixed-rate multi-year loan.  The Bank of England Base Rate interest Rate is forecast to rise to at least 1.5%, double the current level.  Securing a fixed rate loan now will protect landlords from rising borrowing costs; 2.   &nbs ..read more

 Misleading headlines are influencing too many Oxford landlords to sell their assets. Daily headlines preach the end to the buy to let miracle AND never-better house sales market.  The combination of these mis-leading headlines is influencing too many Oxford landlords to sell-up. But, why is selling the wrong idea? There are two dominant economic theories about the UK economy over the coming 3 to 5 years, one gloomy, one optimistic.  But both suggest Oxford landlords should retain their assets. The ‘gloomy’ economic theory says we are in for a period of low growth caused by stag ..read more

Recent research by Yes Homebuyers states that Oxford is one of the top 4 places where properties advertised for sale are over-priced and suffer a price reduction.  38% of all Oxford homes have the asking price reduced. Too often, estate agents are responsible for setting unrealistic price expectations by over-valuing properties to secure a sole agency agreement that assures them of a competition-free period of 16 to 20 weeks.  Once sole agency is secured, the estate agent advises the vendor to reduce the price to the market level.   In any other industry this would be regar ..read more

Should I stay or should I go now? The question immortalised by Joe Strummer of The Clash in the 1980’s is a question on many Oxford landlords’ lips.  Or more specifically, should I sell my properties, or should I keep them? It is unquestionably that Government policy has been hostile to landlords over the last 5 years.  The removal of tax relief for mortgage interest payments, the ban on fees charged to tenants, the planned repeal of Section 21 notices and most recently the virtual elimination of eviction of tenants with persistent rent arrears have all hit landlords hard.  And ..read more

This afternoon's U-turn by the Government that stops the eviction of tenants with rent arrears risks the accusation that the Government is discriminating against a minority group, namely landlords. Press narrative paints landlords as a rogue group intent on driving down the standards of accommodation whilst profiting wildly off the backs of their tenants. But, it seems to me that landlords are not as they are painted.   Many landlords can't afford to live if their rental income is not paid; others rely on rental income to supplement their otherwise meagre retirement pension and still mo ..read more

Recent research by The Resolution Foundation indicates that a third of 18 to 24-year-olds are earning less today than they were before the Covid-19 crisis.  Further research by Flatfair shows that across the UK half of tenants are aged 16 to 34 and young workers are expected to be disproportionately impacted by rising unemployment as government support is wound down.  To illustrate this further, close to half of the 2.8m retail workers are aged 16 to 34 and six in 10 working in food and beverage outlets are of the same demographic. Significant demand for Oxford buy to let homes is ..read more

Many Oxford landlords are asking my view of the property market outlook, and to be totally honest, I think I and other commentators are largely guessing as there is no historic precedent from which to draw lessons learned.  To summarise my view, I’d say that the longer the current lockdown continues the greater the negative impact will be on the economy as a whole and on Oxford’s housing market. Oxford has a diverse local economy combining: knowledge-based services e.g. research, academia and publishing; Medical sciences; a large public sector; and production industries and specialist e ..read more

The new government's Queen's Speech included the scrapping of Section 21 Notices which give Oxford landlords access to a mandatory and accelerated process for achieving vacant possession through the courts. Instead Oxford landlords will be forced to rely on the longer-winded Section 8 Notice which includes greater discretion for the courts, albeit with some mandatory criteria defined.  This author worries that without reform of the courts and the creation of a dedicated Housing Court, the already congested courts will not be able to cope, causing landlords greater losses and much longer perio ..read more

Oxford landlords have been selling more of their properties than investing in new properties, despite Oxford being identified as THE top UK City for buy to rent investment returns.  With demand from Oxford tenants continuing to rise year on year, and supply of good quality private rented homes failing to keep up with demand, it seems certain that rental yields will outstrip inflation over the coming 3 years.  So why are landlords divesting? It is the cumulative impact of legislative changes enacted by the government - a stamp duty surcharge, taxing new buy to let investments, the reduction of ..read more