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New developments put Bicester on the map as one of Britain’s hottest property investment locations
November 27, 2014Article by Charlotte Ashton
The delightful northeastern Oxfordshire town of Bicester is one of the fastest growing towns in the county, according to Census data. In addition to its important military history, Bicester is a haven for shoppers seeking designer bargains thanks to the huge outlet mall on its outskirts.
From designer clothes to designer properties
Bicester is also a town on the radar of those looking to pick up bargain properties. House prices there have risen 12.69% in the past year according to Zoopla, and 20.30% over the past five years. New development projects in the centre look set to drive prices up further in the years ahead. The leading regeneration scheme is the £70 million development of the Pioneer Square retail area, which will see a cinema complex and Sainsbury’s supermarket added to the town centre’s offering.
A number of new housing developments are also adding to Bicester’s attractions, as Ray Withers, Chief Executive of specialist property investment company Property Frontiers, observes,
“Bicester is benefitting from a swathe of new housing developments and is a leading location for property investors looking to be involved in a dynamic market offering strong yields. The town centre redevelopment, the existing offering in terms of retail and leisure pursuits and the new rail link between Oxford and London have served to make Bicester a particularly exciting location for those looking to live and work close to London.”
Bicester brings in the buy-to-let investors
The best part of 10,000 new homes are planned for the Bicester area. Buy-to-let investors are homing in on the town as an excellent investment opportunity, as Withers explains,
“Young professionals have been flocking to Bicester thanks to its fantastic combination of business possibilities and recreational offerings. Rental property is much in demand and property investors are looking to Bicester to make their capital grow for them. Buy-to-let properties in Bicester are set to generate strong yields over the years ahead, as well as benefiting from price rises as the town grows and develops.”
Zoopla states that the average asking rent in Bicester is £1,328 pcm. This compares with an average UK rental value (excluding London) of £728 pcm in the three months to September according to data from HomeLet. The figures highlight the potential for excellent returns available to property investors looking to Bicester to grow their funds. It’s an opportunity that Property Frontiers has been monitoring for some time and the firm is rumoured to be about to announce its own buy-to-let development within the town.
As one of the UK’s most exciting property hotspots, Bicester is certainly somewhere to watch over the coming months and years. With everything from designer clothes to leading properties available, it’s no wonder the town is growing at such a meteoric pace.