Why Newbury is a fantastic alternative to Oxford
Almost every week a home mover walks in through the door asking for our opinion on house prices. They want to know if they’re going up or down and how affordability will be affected. Of course, for those with a property to sell, rising house prices can be viewed as a boon. But for those looking to get on or move up the housing ladder, rising values can scupper plans.
A young couple visited us this week looking like the wind had been taken out of their sails. They’d been frantically looking for a house to buy in Oxford but had been thwarted at every turn by rising house prices and a competitive market, which saw every offer they made trumped.
They explained how they’d started to expand their home moving boundary into nearby West Berkshire, hoping to a find a decent sized home within their budget. It’s a scenario we are familiar with here at Jones Robinson, in both sales and lettings.
I showed the couple a recent article from The Telegraph that heralded the ‘in-betweener towns’ – those locations just outside of Britain’s premium property hotspots where affordability is still evident. One of the top ten towns was Newbury, which was proposed as an affordable but nonetheless well connected alternative to Oxford. The article quoted Newbury’s less-than-60-minute commute to London Paddington, the exceptional road links in close proximity and good schools as redeeming facets, which caught the couple’s eye. Taking the comparison a step further, I was able to show them the latest Rightmove figures – the overall average house price in Oxford is £448,009, compared to £281,383 in Newbury.
Far from being a just a cheaper alternative to Oxford, Newbury is a great location in its own right. One of the biggest changes to affect the town will be the electrification of the Great Western rail line that serves Newbury, which will result in a new fleet of quicker, bigger and greener trains, improved reliability and faster commuters.
Newbury is also proving to be a magnet for blue chip companies, with Vodafone and Sony both choosing the town as their base and creating employment opportunities. The knock-on effect is a buoyant buy-to-let market, with a strong demand for well-kept and professionally managed rental properties.
I was able to give the couple a selection of properties for sale in Newbury that not only met their requirements but exceeded them, all well within their budget (leaving them enough spare cash for a new kitchen or a really luxurious holiday!). We’re in the process or organising viewings for them too. If you’d also like to find out about the Newbury property market, don’t hesitate in contacting Jones Robinson today.