Why Buying Property in Summertown is a Good Idea
Summertown – the name itself glows with warmth. It is believed that the first settlers in the area were a horse dealer, James Lambourne, and his wife. They felt it was “the pleasantest place in all England – nay, in all the world” and named it after the best season of the year. However, that is not the only reason why Summertown is a nice place to buy property. Being a suburb of Oxford, with easy access to its surroundings, it has become one of the high-demand areas on the properties list. Also, as the letting agents in Summertown will agree, the rental market there is also high.
Here are a few other reasons why it is advantageous to buy a property in this ambient nook of Oxfordshire.
Being in the proximity of Oxford city and with good transport facilities to London and other cities, Summertown is an ideal location for people residing or renting there. It offers city life close by, as well as beautiful relaxing countryside. For people looking at living a quieter life but in a prosperous area, Summertown could be the answer. In itself, it is a bustling business and shopping centre, with a variety of beautiful properties – individual houses and apartment buildings. Oxfordshire is one of the major economic hubs of the country and hence, properties in this area are much in demand.
Summertown is mainly a residential area and, after Oxford University allowed college fellows to live in houses instead of rooms on the campus, many building constructions sprung up. With the increase in residents, more restaurants, pubs, shopping facilities and entertainment venues appeared on the scene. It is now one of the vibrant areas in Oxfordshire. North Parade Avenue offers a Saturday local street market which can be very interesting.
The North Walls Arts Centre offers many fun events throughout the year, not just for art, but theatre, opera, dance and drama studios. Alexandra Park does not just provide a beautiful place for walks and relaxation, but also has many tennis courts where one can get more exercise, if desired. Oxford is traditionally known for punting and bounded by the River Cherwell, Summertown offers great opportunities for this sport for both novices and experts.
Safety and Security:
Although Oxfordshire itself is rather high on the crime rate, Summertown is known as one of the safest neighbourhoods in the area.
The two wards of Summertown and St. Margaret’s have a Neighbourhood Plan, which came into effect in 2019. The Plan was successful at the Referendum, which took place on 7th March 2019 with approximately 93% of voters approving the Plan. With this running, the needs and requirements of various aspects are regularly seen to.
For the convenience of the residents, essential amenities such as parking space, health issues such as pollution and congestion, transport feasibility and other factors to continuously make life pleasant for the residents are looked into. This makes a big difference in the quality of life in the area and the properties, too.
For families with school or college going children looking to relocate to Summertown, it is famous for its top quality educational institutions, right from Preschool, Primary, Secondary Schools to Universities. So much of a child’s future depends on the educational foundations established, and this is one of the best places to obtain such important groundwork.
House prices are not cheap in Summertown. However, while individual home buyers may find it difficult, it should be attractive for prospective investors (both foreign and domestic) for Buy-to-Lets. There is a great demand for rentals, especially because of the various surrounding educational institutions. Shared housing is also very popular, but the restrictions for HMOs (house in multiple occupation) should be researched and followed.
Supply Against Demand:
The omnipresent high demand over the low supply results in a hike in property prices. For those looking to sell, it could be beneficial. For buyers, who are looking at ROI (return on investment), although it will be a large amount to pay initially, the capital gain when calculated may be worth the investment.
Anyone looking at purchasing property will have a list of priorities, not least of which will be the budget. Prices of property in Summertown can be off-putting. However, when comparing them to the various advantages of living in the area, including the fact of the investment becoming more profitable in the future, it may just sway your decision in choosing this location. Of course, the end option lies in your hands.