Demand for rental property in Oxford is extremely strong, especially from young professionals. The area is a great place for buying to let.
As well as the universities, Oxford homes many medical institutions, where high numbers of academics and medics are on placements or temporary contracts.
Letting agents claim that demand is so strong that prospective tenants sometimes queue outside on the street so that they get the first pick of new properties.
Licenses
Private rental sector housing that is occupied by three or more people (including children) and forms two or more households requires a license. Houses with two occupants do not need a license.
Where to invest
East Oxford, also called Cowley, is becoming more popular. The area is walking distance from the city centre and has smaller but affordable Victorian terraces. These charming homes provide better investments than properties in areas such as Jericho and North Oxford, where prices near seven figures.
Cowley is a cosmopolitan place with an eclectic mix of people and amenities, including nice pubs and restaurants. Traditionally, it was full of students, but now, professionals are moving into the area.
Cheaper properties can be found just outside Cowley in Littlemore.
Property prices
A one-bedroom apartment in Cowley costs around £250,000 with three-bedroom houses priced at over £450,000.
In Littlemore, one-bedroom flats go for about £200,000 and command a monthly rent of £850. A three-bedroom house costs around £280,000, for rent of £1,100 per month.