Bicester house prices: cheaper property than nearby Oxford and an easy commute to London, this attractive market town is a great investment
Londoners are not the only ones facing ever-rising housing costs – Oxford residents have been faced with similarly spiralling house prices and rents over the past decade.
House prices in London have gone up by 86 per cent in the past 10 years, while in Oxford they’ve risen 82 per cent in the same amount of time and it’s a similar story for renters, who are spending increasing proportions of their income on rent in both cities.
Ideally positioned for either location, but with significantly lower prices for buyers and tenants is Bicester, which has fast train links direct to Oxford in 15 minutes and London Marylebone in 45 minutes.
The fact that prices are currently lower in the market town than in nearby areas also means there’s scope for significant price rises – especially with the promise of future investment in the town including new rail lines, road links between Oxford and Cambridge and 18,500 new jobs.
Bicester’s population is expected to nearly double, from 30,000 to 50,000 as a result.
Many of these new residents – drawn by jobs and easy transport links – are likely to be young, urban-minded professionals with high expectations when it comes to design and convenience, making stylish apartments a canny buy for investors with an eye on Bicester’s booming future.
Homes in Bicester have tended to be targeted towards family buyers in the past, according to Oxford-based retail consultant Fiona Sale. “They weren’t very edgy or young”, she says.
Sale has just bought a one-bedroom flat off-plan at Trinity House in Graven Hill as an investment for just under £200,000 including a parking space.
“The location of the development is fantastic, five minutes from Bicester village train station.”
Eco-friendly new homes
She also believes the scheme’s green credentials will appeal to an environmentally conscious crowd of younger commuters.
“The whole village is sustainable, there’s a school there, shops, a community on your doorstep. You don’t have to get in your car and drive.”
From £239,950: two-bedroom flats at Trinity House in Graven Hill, Bicester
Andy Foote, director at SevenCapital, agrees. “Trinity House is a unique offering. It sits at the heart of what will be one of the most ground-breaking and green communities in the UK, yet it will be affordable, match the style and sophistication of counterpart city apartments and offer access to three major cities – Oxford, London and Birmingham, all in less than one hour.
“Essentially it will offer tenants the best of both worlds.
“It is precisely these reasons why the town is beginning to see increasing demand from city workers as an alternative place to live – all the style for a fraction of the price.”
One-bedroom flats in this phase of the development are sold out but two-beds are still available.
Apartments boast contemporary interiors in high-quality finishes, from Oak Croft internal doors, satin finish ironmongery and pendant light fittings as well as low-energy LED downlights.
And the town itself has plenty to appeal to a younger crowd.
“There’s beautiful countryside around north Oxfordshire and Bicester’s not purely manufactured, it’s developed from a historic town, so there’s lots of pretty buildings,” says Bill Cooper, managing director of Martin & Co in Oxford.
“There are lots of pubs, restaurants, bars and a market town centre giving Bicester a much more village feel than Oxford for instance.”
Priced from £239,950 two-bedroom flats are still available in Trinity House at Graven Hill Apartments. Find out more about the few remaining apartments here.