Tuesday, 30 October 2012

BBC News - Oxfordshire rent prices 'set to soar, federation warns

BBC News - Oxfordshire rent prices 'set to soar, federation warns

Rents in Oxfordshire will go up by more than half by 2022, the National Housing Federation has warned.

Its report suggests monthly rent will rise from £934 to £1,447 while house prices in the South East will increase by 61%, the steepest rise nationwide.

Warren Finney, South East manager, said it was down to a "chronic undersupply of homes across Oxfordshire".

James Gesner, from Lesters Estate Agents in Didcot, said the predictions were "very realistic".

He added: "House prices have doubled in 10 years. If the economy picks up and if mortgage lenders get a bit freer with lending, prices might soften.

"But there's still not the availability of stock."

Oxford City Council has about 6,000 people on its housing waiting list and 165 more in temporary accommodation.
Oxford from the air
The National Housing Federation said it was "crunch time" for Oxford's housing market

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