Oxford is one of the UK's most expensive places to rent

OXFORD has been named the seventh most expensive town or city for renters in the UK.

According to figures released last night the average rent in the city is £891 a month — £185 more than the average monthly rental price for the rest of the country.

A report by specialist letting agents’ insurer Endsleigh showed that the average monthly rent across the UK in 2011 rose for the third year running to £706, compared with £688 in 2010 and £663 in 2009.

Oxford comes behind London, Watford, Guildford, Slough, Bath and Brighton, and ahead of Bournemouth, Reading and Redhill.

The ten cheapest places for rent are all located in the north of England and Scotland, apart from Swansea, which has the lowest average rent in the UK at £399 per month, almost half of the national average. Tenants across the Midlands also pay less than the national average, with an average monthly rent of £555.

Grant Stevens, general manager of Letting Services at Endsleigh, said: “Nationally, year-on-year, the picture is one of a very buoyant rental market and, with the overall rise in keeping with inflation, it won’t unduly affect the pockets of either Oxford’s landlords, who are enjoying good yields, or renters, who are able to access a whole range of properties.

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“The bigger threat to landlords’ income increasingly comes from repairing damage to property that frequently costs more than the tenant’s deposit.”

Comments(19)

Andrew:Oxford says...
1:40pm Wed 22 Aug 12

I suppose slough and watford deserve to be higher up the league tables than Oxford with something.

A monthly mortgage payment of £891 would, subject to deposit, put the borrower in reach of over 230 properties in Oxford right now.

sparky123456 says...
2:19pm Wed 22 Aug 12

the rent rates are fair as they're based on the costs of the houses. The lack of land released for building and investors taking buy to let are what is unfair. if Oxford's average monthly rent was £600 the owner would never return a profit against the mortgage and maintenance. Then you'd only have cash buyers in the market and typically foreign investment.

Myron Blatz says...
3:03pm Wed 22 Aug 12

High rents across Oxford are due an ever mre expensive and finite property market (limit on available dwellings) combined with an ever-growing demand from the student sector which has spiralled out of control over the past couple of decades. This has seriously affected the housing needs of local people, who have found themselves increasingly outpriced in competition for private sector housing with student demand and the massive growth of the education industry in Oxford - such as Brookes. The situation for local Council Tax payers is that for single men and even married couples under 60 without children have little or no chance of getting Council Housing, where applicants on the waiting lists in Oxford can wait years and years. The way forward isn't more 'affordable' housing to buy, because many cannot afford deposits or high mortgages. Nor is the answer via housing associations - which do not provide the same level of tenancy security as does Oxford City Council, and one reason why for years across the UK, council tenants have rejected asset transfer from council housing to housing associations. We need to seriously re-evaluate the need for large open green spaces in and around Oxford, whilst people go homeless, or are forced to move ever further from where they were born and brought up, their families, and their jobs. It's perhaps easier to be a NIMBY and fight to save parks if you already own your home, than for those who don't and caught in the great rent trap which Oxford has become. Unless supply of dwellings increases, the demand will just continue to inflate rental prices.

father dowling says...
3:14pm Wed 22 Aug 12

What about all the decent hard working families on the housing list for years on end been choked for sky high rent every month whilst single people live the life of luxury in two and three bedroom council houses ? OXFORD CITY COUNCIL shouls be ASHAMED of themselves. They know who these people are and do NOTHING ! When your family has grown up and moved out the council should MAKE YOU downsize and give families the chance you had when you so quickly grabbed a council house for your family ! REPORT any single person, whatever age or so called circumstances that is holding on to a COUNCIL FAMILY HOME today !!!!

Bartsimpson_uk says...
4:01pm Wed 22 Aug 12

and where do these people move to, when there are no one or two bedroom homes free???

Lady Penelopee says...
4:16pm Wed 22 Aug 12

Myron Blatz wrote:
High rents across Oxford are due an ever mre expensive and finite property market (limit on available dwellings) combined with an ever-growing demand from the student sector which has spiralled out of control over the past couple of decades. This has seriously affected the housing needs of local people, who have found themselves increasingly outpriced in competition for private sector housing with student demand and the massive growth of the education industry in Oxford - such as Brookes. The situation for local Council Tax payers is that for single men and even married couples under 60 without children have little or no chance of getting Council Housing, where applicants on the waiting lists in Oxford can wait years and years. The way forward isn't more 'affordable' housing to buy, because many cannot afford deposits or high mortgages. Nor is the answer via housing associations - which do not provide the same level of tenancy security as does Oxford City Council, and one reason why for years across the UK, council tenants have rejected asset transfer from council housing to housing associations. We need to seriously re-evaluate the need for large open green spaces in and around Oxford, whilst people go homeless, or are forced to move ever further from where they were born and brought up, their families, and their jobs. It's perhaps easier to be a NIMBY and fight to save parks if you already own your home, than for those who don't and caught in the great rent trap which Oxford has become. Unless supply of dwellings increases, the demand will just continue to inflate rental prices.
Since when has location of your dwelling been a human right?!

People should accept that they can't afford to live where they want to live, and live somewhere else!

Concreting over green areas is ludicrous just so someone can live where they grew up!

Lady Penelopee says...
4:22pm Wed 22 Aug 12

Bartsimpson_uk wrote:
and where do these people move to, when there are no one or two bedroom homes free???
er... somewhere else where there are 100s of 1 or 2 bedroom homes free!?

Lady Penelopee says...
4:25pm Wed 22 Aug 12

father dowling wrote:
What about all the decent hard working families on the housing list for years on end been choked for sky high rent every month whilst single people live the life of luxury in two and three bedroom council houses ? OXFORD CITY COUNCIL shouls be ASHAMED of themselves. They know who these people are and do NOTHING ! When your family has grown up and moved out the council should MAKE YOU downsize and give families the chance you had when you so quickly grabbed a council house for your family ! REPORT any single person, whatever age or so called circumstances that is holding on to a COUNCIL FAMILY HOME today !!!!
This should be there first step to sort the problem out.

Those living in a house too big for them should either downsize, or have to pay the full market rent.

They also need to cap council houses at 3 bedrooms, as no one reliant on social housing should require more than 3 bedrooms, otherwise they are breeding irresponsibly!

Myron Blatz says...
7:03pm Wed 22 Aug 12

Think at least local councils try to meet their social obligations to house people - even if forced to use private landlords, rather than social housing. As for the 'Utopia' somone mentioned? This is where the private landlords live, fat off the proceeds from the businesses which they run.

Milkbutnosugarplease says...
10:25pm Wed 22 Aug 12

Nobody has said yet that Oxford City Council's rules for houses in multiple occupancy have added to landlords' costs, which have been passed on to tenants in rent rises. I am a landlord who has only let to families but recently had replies to an advert from sharers/housemates looking for a home. I have nothing against sharers except that accepting three or more as tenants involves paying OCC about £350 to inspect my property plus an annual licence fee of £150. My other costs stay the same, so I would have to recoup the money from tenants. In fact I don't want to pay even more to OCC (who are wasteful spenders), so I turned away the sharers. Some told me they have a problem finding houses now. I think safety for tenants is vital and OCC could pursue bad landlords rather than 'tax' good ones and increase red tape around lettings. That takes effort and brings in no revenue, so we're stuck with HMO fees for sharers who could be great tenants but who must pay more to ensure that OCC approves the rental property.

Lady Penelopee says...
10:30am Thu 23 Aug 12

They need to STOP any more houses being sold as investment, and allowing people to buy them as owner-occupiers instead.

Perhaps they could have a rule in Oxford that all property sales can only be sold to an owner-occupier for the first 3 months of being on the market (then only after 3 months being offered to investors). The new owner would then be forbidden to rent it out for at least say 5 years.

Buying in Oxford is quite a daunting task when competing with Landlords, who are often experienced property buyers.

GaryOxford says...
1:58pm Thu 23 Aug 12

Lady Penelopee wrote:
Myron Blatz wrote:
High rents across Oxford are due an ever mre expensive and finite property market (limit on available dwellings) combined with an ever-growing demand from the student sector which has spiralled out of control over the past couple of decades. This has seriously affected the housing needs of local people, who have found themselves increasingly outpriced in competition for private sector housing with student demand and the massive growth of the education industry in Oxford - such as Brookes. The situation for local Council Tax payers is that for single men and even married couples under 60 without children have little or no chance of getting Council Housing, where applicants on the waiting lists in Oxford can wait years and years. The way forward isn't more 'affordable' housing to buy, because many cannot afford deposits or high mortgages. Nor is the answer via housing associations - which do not provide the same level of tenancy security as does Oxford City Council, and one reason why for years across the UK, council tenants have rejected asset transfer from council housing to housing associations. We need to seriously re-evaluate the need for large open green spaces in and around Oxford, whilst people go homeless, or are forced to move ever further from where they were born and brought up, their families, and their jobs. It's perhaps easier to be a NIMBY and fight to save parks if you already own your home, than for those who don't and caught in the great rent trap which Oxford has become. Unless supply of dwellings increases, the demand will just continue to inflate rental prices.
Since when has location of your dwelling been a human right?!

People should accept that they can't afford to live where they want to live, and live somewhere else!

Concreting over green areas is ludicrous just so someone can live where they grew up!
The trouble is that in the locations where renting is cheaper, wages are also lower. So people are no better off in moving. This is a nationwide problem, housing is too expensive in relation to income.

EMBOX1 says...
9:48am Fri 24 Aug 12

In other news, bears have been caught defecating in the woods, and - this just in - the Pope IS catholic.

Tsk.

oxfordox3 says...
6:24pm Fri 24 Aug 12

i cannot afford to move out of my parents home and i am a manager of a restaurant. I dont have a car so i dont spend money on that. a 1 bedroom flat will cost me £900 pcm without any bills. Now someone who earns around £800 a month cannot afford it. like me. i was planning on going on the housing list until i was quoted by one of the council saying its better for me to have a child, if i want to move out quickly! If you are a single person with no children you will be on housing band c which i was told means you are very much less likely to get a place in the next 5 years. this is outrageous. i will be working for my money and my home and not squandering on the government.

Abartonresident says...
9:37pm Fri 24 Aug 12

Oxfordox3, don't imagine you will get housed in anything like 5 years unless you decide to be a single parent. My son's girlfriend went on the housing list 19 years ago and she still has no hope.

Dilligaf2010 says...
9:56am Sat 25 Aug 12

oxfordox3 wrote:
i cannot afford to move out of my parents home and i am a manager of a restaurant. I dont have a car so i dont spend money on that. a 1 bedroom flat will cost me £900 pcm without any bills. Now someone who earns around £800 a month cannot afford it. like me. i was planning on going on the housing list until i was quoted by one of the council saying its better for me to have a child, if i want to move out quickly! If you are a single person with no children you will be on housing band c which i was told means you are very much less likely to get a place in the next 5 years. this is outrageous. i will be working for my money and my home and not squandering on the government.
Manager of a restaurant earning £800 a month, by restaurant, do you mean a McDonalds or something similar?

Vernon Spools says...
9:59am Sat 25 Aug 12

I had to move around round the country to find work that paid enough and housing that I could afford. I really don't understand everyone that wants to remain in Oxford and think the council and everyone else should help out. We should certainly fix the homeless problem, but in my day, and I am not that old, if you couldn't afford to move out you didn't!

make mine a double says...
6:30pm Sun 26 Aug 12

Rents are fair in Oxford, the market dictates the rate. if they were to high then market forces would drive them down. Oxford is one of the best places to live in the UK, people that can not afford Oxford could move out to other areas that are not so expensive. Just because you were born in a place gives any right to live in the area. I'm a Landlord and worked my butt off, no silver spoon in my mouth I intend to increase my portfolio of housing and will charge what the market dictates.

oxfordox3 says...
10:52am Tue 28 Aug 12

its because i work and dont spend all my time on a computer. Thank you for the advice. And im a manager, i also do foh shifts too. and Dilligaf2010, the thing is im only 19 years old and a manager and your being a complete ****. im sorry but thats a pretty good postion at my age. Im 19 and doesnt want a child and wants to move out parents home and ur giving me a hard time im sorry. what the hell were you doing at 19?
I have seen places in oxford however landlords are even worse than the council, saying i cant have a place as they are looking for post-grads ect. and my age. For what oxford is, i think the rents and house prices are terrible. and Kingston Road Crusader Ox2 6EG you happy i have replied.

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