What are the usual reasons for buying property?You either want to live in your own home or need to move house from one area to another. Alternatively, you would like to make a profitable investment. No matter the reason, the “right property” should be chosen – something that will be suitable to your taste, needs and requirements. The pandemic started a trend where many people began looking for homes away from city centres, which offered additional space and recreational areas. Even though return to offices has commenced, some people are still working online from home. Estate agents in Witney can confirm that many people continue to look for homes in less cramped, open areas.
We give 5 reasons why the town of Witney, in West Oxfordshire, is high on the property purchase scale.
Location:
Witney is located on the River Windrush, just 12 miles west of Oxford. Despite its proximity to the bustling city, and being a developing market town on its own, it retains an old world charm. “Cosy” is an apt description, which could also be derived from the beautiful woollen blankets Witney was so famous for. The high quality of the blankets was believed to be due to the water used, which was drawn from the River Windrush. The location’s natural green surrounding beauty adds to the peaceful ambience that permeates the town.
Sparse population:
Witney is still one of the least populated areas in the region and so offers space and privacy. If one is looking to get away from the hustle and bustle of normal city life, Witney could be a good choice.
Safety and security:
In Witney, the crime rate is lower than in other places. It offers safety and security. According to the Crimerate article, “Witney is the safest medium-sized town in Oxfordshire.” This is an asset well worth consideration.
Facilities:
Besides being an upcoming business hub, the town offers many other facilities as well:
- Employment: It is a growing market town and opportunities for employment in the town itself keep emerging.
- Transport: Even if you need to commute to Oxford or any other city, the bus transport facility is very convenient and has good connectivity. The A40 is very close and provides direct access to the motorways M40 and M5. The railway station is being considered for reopening, which will add to the transport facilities.
- Education: Nursery schools and educational institutions are well rated in Witney and offer a good foundation for families with school going children. The Abingdon and Witney College close by offers further education opportunities. The Witney and District Museum is an interesting place to visit.
- Shopping and entertainment: All essentials are available in the town itself, including provisions and clothing necessities. Witney offers a variety of restaurants and pubs. The famous Wychwood Brewery is located there. It offers “hand-crafted and award winning characterful beers.” Besides the monthly Farmers’ Market, many annual events are hosted in Witney, including the Wychwood Forest Fair, the Witney Feast and, in summer, the Witney Carnival. Various sports and recreational activities are also available.
Prices:
Everyone is interested in this important aspect. House prices in Witney have recently fallen slightly. According to an expert, “Asking prices have changed on an average -1.1% in the past 6 months.” However, there have been many new build housing developments with plans for many more new homes to be constructed. With supply being bolstered to meet the demand, house prices may reduce. This would be beneficial to prospective buyers.
If you are looking at investing in property, Witney offers good business for Buy to Let. The variety of properties available is vast – from the popular Cotswold stone terraces to semi-detached homes and apartments. Holiday rentals are very popular. In addition, with the proximity to Oxford and its own business centres, the rental market in Witney also seems to be stable. With many schools and universities close by, student rentals are also on the increase.
Conclusion:
Choosing an appropriate location and the best property is a major factor when looking at purchase of property. As with every decision, it is always wise to look at all aspects – budget, documentation, legalities, facilities etc. Taking all of the above into consideration, and especially the reasons given above, Witney appears high on the ladder for purchase of property.
