jdw oxford newsletter

7/29/2019 JDW Oxford Newsletter

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Oxord Newsletter

It seems like an age ago now but we had

a wonderul Christmas. All the demons

threatened in 2009 ailed to mater ialise

and somehow 2010 did not seem quite

as daunting as it might have done and

then it snowed, wreaking havoc across

the county and with our New Years

resolutions (I promise never to sneer at

4 x 4 again).

Snow still lingering, property prospects

or 2010 look encouraging, at least in thefrst quarter o the year. Oxord and

its immediate environs rom Chipping

Norton to Wantage, Chinnor to Burord,

remains a highly popular destination or

house buying and rental as can be seen

rom the commentaries inside driven

by aspirational parents (surely all cannot

want to be like Jeremy Clarkson?), good

schooling and accessibility to London and,

increasingly, the Midlands.

With an election looming and the tempobetween the parties increasingly strident

it is good to remember that whatever the

weather ahead, property is still as sae a

bet as ever provided the loan to asset ratio

is kept in check, and it seems unlikely the

banks will get carried away again in the

short term.

With more buyers than houses to sell and

no lack o demand to rent, we mused on

the reasons or coming to the market.

Trading up, divorce and bereavement

were the avourites, leading some wag to

remember the old Tudor adage (Divorced,

Beheaded, Died...). We may be good, butbeheading to boost our book is perhaps a

little extreme.

Whether the tweenies, teensies or tenses,

welcome to 2010 the NEW decade.

New-Fashioned.

You may have seen our new corporate

advertising campagin which has appeared

in The Oxord Times, Oxordshire Lie,

Vogue, Tatler, Country & Town House, The

Times, London Evening Standard and otherregional newspapers and magazines. We

have received a antastic response with

enquiries through our website up by 25%.

Spring 2010 www.johndwood.co.uk

The complete property service or Oxord - Residential Sales, Lettings, Valuations and Agriculture

A welcome to the new decade from Nicholas Hextall FRICS

and the Oxford team.

NEW-FASHIONED.

Some estate agents hide behind a

wall of sharp suits and tall stories.

At John D Wood & Co. traditional

values and a straight-talking approach

go hand in hand with 21st Century

innovations. Thats why were

different and why our

clients trust us.

Sold in Oxford Let in Oxfordshire


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Lettings01865 311522 [email protected]

Stephanie Judd

Negotiator

Kate Sinclair

Negotiator

Jackie Smith

Associate

Rebecca Priestley

Lettings Manager

Simon Merson mricS

Associate Director

There are new opportunities or investors as demand

rises or good quality rental properties in and around

Oxord writes Rebecca Priestley.

So ar in 2010, we have noticed distinct shits

in the market. First, it has become obvious

that there are now new opportunities or

investors. Unusually at this time o year, there

is an imbalance o property and applicants,

a dire undersupply o good quality property

and strong demand rom an unusually active

applicant base. It used to be the case that

the lettings market was par ticularly quiet in

the winter months. This year seems to be

quite dierent. The highest demand is or

a typical buy to let apartment with one ortwo bedrooms in the price bracket rom

800 - 1200 per calendar month both in

and around Oxord.

However, compared with this time last

year, the number o appraisals carried out

has dropped 50%. We thereore advise

those thinking o buying or investment or

considering letting their existing property

not to put o their decision but to come to

the market sooner rather than later. With

the lower interest rates, most o our investor

landlords are indicating that their rent is

sufcient to cover their outgoings and that,

as in the past, owning a property portolio

is now a fnancially benefcial proposition.

There is growing confdence in the rental

market, with not just the accidental Landlord

coming rom the sales market, as happened

last year, nor the Landlord wanting to make

money quickly rom a rental property, but

more with the sector being dominated by

the proessional Landlord - the long term

investor with an increasing portolio.

We are ortunate in our Oxord ofce in

having a busy and successul residential sales

department whose potential buyers look

to us to help with their search in buying to

invest. Some are even buying their perect

property to move into in 5-10 years time.

In the interim, we secure a let or them.

The other signifcant shit in the rental market

has been in corporate relocation. We have

a strong relationship with the relocation

companies covering Oxordshire and wordis that though international corporate

moves o senior executives are still down,

there has been a noticeable rise in demand

rom UK residents. In particular Londoners

are urgently looking or country houses to

rent now, both pending fnding the right

place to buy and also or regular weekend

use. Budgets or this type o house are

high anything up to 10,000 per calendar

month and the demand is or both urnished

and unurnished property.

It is apparent that both tenants and

landlords contact John D Wood & Co. due

to our reputation and our strong brand.

Our traditional values go hand-in-hand

with modern innovation. This year will see

us moving to a secure on-line system so that

our clients can access their own accounts

and documents, making our service that

much more efcient and eective - most

important or those landlords who are

overseas.

Source o Applicant

Source o Landlord

Website

8% Advertising

32%Boards

8%

Local

Newspapers

8%

Existing

Clients

9%

Sales Ofce

17% Recommendation

17%

Boards

1%

Direct

52%

Reerrals 3%

johndwood.co.uk

11%

Other

Websites

9%

Newspapers 3%


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A year seems to be a very short time in

property. It was only twelve months ago

that we were looking into 2009 with a

sense o trepidation and anxiety uelled by

the fnancial turmoil o the preceding year.

How dierently it all turned out low

stock, cheap mortgages and buyers in depth

helped the market in Oxord to stage an

astonishing recovery with some sale prices

even exceeding 2007 levels. As we look

into the year ahead we have one certainty

- a General Election combined with a new

top rate o tax (50%) and increased National

Insurance contributions coming into eect in

April. It is oten said that a looming election

never causes too many ripples in our market

but a change o Government? only time

will tell. Given the evidence o just January

alone it appears the Oxord city market

appears to have lost none o its appetite

o last year with very good numbers o

applicants registering particularly at the

top end. The country market took a while

to fnd its eet last year and really only got

going shortly beore the schools broke up

or the summer. Many potential vendors

took the view that the market was not

sufciently robust or them to put their

properties up or sale. This year we are

advising all potential vendors whether city

or country, to come to the market as soon

as is practically possible. Whilst colour in the

garden with warm days when the seasons

change is important, we believe it will be

fnancially advantageous to come to the

market beore the election rather than ater.

I your buyer likes your house in February/

March then they will love it in the better

weather o May/June. Remember a log fre,

heating and attractive lighting can be just as

appealing at this time o year.

We have a well-worn phrase which is

- the right price and the right marketing

produces the right result. Our market is

now so reactive, in that potential buyers

respond to e-mail alerts or new properties

so promptly, that three to our weeks o

being on the market with ull exposure gives

you a very clear indication o how well the

property is being received. Today, buyers are

a very proessional bunch with a vast arrayo internet sites available with inormation

on prices paid in the area, s per sq t., etc.

and they will not be ooled into paying more

than they should.

So or practical, honest advice do call us and

we would be delighted to come to see you.

William Kirkland

Associate Director

Simeon Spencer

Assistant Manager

Guy Shaw

Negotiator

Pamela Tingay

Administrator

Residential Market Review by William Kirkland.

Sales01865 311522 [email protected]

Wantage For Sale Guide Price 1,695,000

Some recent successes...

Sold in Burcot

Sold in Middle Barton

Sold in Wheatley


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The main discipline practiced by our

Proessional Department in Oxord is

valuation, rom which leads a multitude o

ollowing business. An art not a science

although an increasingly demanding science

in this litigious age we value everything

rom smallholding to great estate or sale,

probate, divorce, inheritance tax and even

comort. Increasingly in this day and age,

people want to know where they are so

they can make plans.

The essence o all valuation is comparable

evidence which or houses in the city or

villages are easy to fnd, but arms and

estates and o-lying blocks o land are more

difcult to quantiy.

2009 was a good year or comparables on

the agricultural side, with the department

oering and successully selling a number

o attractive small arms and blocks o land

around Oxord, giving us a good database o

value or the year ahead.

Most popular prove to be the armhouse

with between 20 and 50 acres, as evidenced

by the sale o Stones Farm, Wootton

(armhouse and 40 acres) just below Boars

Hill; Stanord Park House at Stanord-in-the-

Vale (armhouse and 44 acres); Manor Farm,

Lower Arncott (armhouse and 160 acres);

Rectory Farm, Oddington (armhouse and

20 acres) near Islip and South Hill Farm,

Long Compton (two houses and 167 acres).

There is still a demand or bare land, mainly

o interest to the adjacent armer who tends

to measure lie in generations rather than

years and will do almost anything to raise

the unds (normally through the Agricultural

Mortgage Corporation) to buy the block

adjacent, as in land at West End Farm Merton

(527 acres) and land at Worminghall (250

acres).

Demand or these properties continues to

be high, particularly within twenty miles o

Oxord city centre. One in three o our

applicants, i not looking or a North Oxord

house, is interested in a house with a bit o

land or a small arm.

So whether buying or selling or just plain

curious, do call our specialist team and

we will be delighted to drop by on a no

obligation basis to talk things through with

you. Just call 01865 511215 to make an

appointment.

William Tuckett

Assistant

William TwiddymricS

Associate

Nicholas Hextall fricS

Director

Melanie Treacher

Administrator

London Ofces

Battersea, Belgravia, Chelsea, the City, Fulham, Kensington, Primrose Hill, Richmond, South Kensington, Wandsworth, Wimbledon.

Country Ofces

Chelmsord, Cobham, Esher, Lymington, Oxord, Weybridge. Associated ofces throughout the south o England.

Valuation. An art not a Science, or a mixture o

the two? Nicholas Hextall FRICS ponders the question.

Agriculture/Proessional01865 511215 [email protected]

Some Recent Agricultural SalesRecent Farm Sales...

Worminghall, Buckinghamshire

Stanford-in-the-Vale, Oxfordshire

Oddington, Oxfordshire

Lower Arncott, Oxfordshire

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