Why Are So Many Bicester Homes Bought During the Pandemic Returning to the Market?
In the summer of 2020, Bicester's property market, like the rest of the UK, roared back to life after weeks of pandemic lockdown. It was a strange moment in history.
Why Are So Many Bicester Homes Bought During the Pandemic Returning to the Market?
In the summer of 2020, Bicester's property market, like the rest of the UK, roared back to life after weeks of pandemic lockdown. It was a strange moment in history. The pause in the British housing market had created a bottleneck of pent-up demand, and when the doors reopened, homes that might have taken months to sell were suddenly attracting multiple offers in a matter of days.
Average asking prices jumped sharply, fueled by a combination of limited supply, government incentives such as the temporary stamp duty cut, and a rush of buyers rethinking their living arrangements. For many, the pandemic was a nudge to make changes they had been considering for years, and others, it was the trigger for an impulsive leap.
Buyers who had been cooped up in flats suddenly had the freedom (and in many cases, the budget) to look for more space. A house with a garden, perhaps a home office, or even a semi-rural location outside the main town, became the dream. For some, it was a complete relocation from busier urban areas to the countryside.
In those frenzied months of 2020 and 2021, the competition was fierce. Both my estate agent colleagues and I, with other agencies in the town, recall Bicester homes being listed on a Friday and sold by Monday morning, often well above the asking price. Many buyers were willing to compromise on location, condition, and amenities to secure a property.
Now, certain newspapers and commentators are saying there is a flood of homeowners putting their homes on the market for sale who bought in that initial post-pandemic rush. Before I look at what is happening in the Bicester property market, let us explore why this could be happening.
Why are these homes coming back to the market?
Several factors are at play:
1. Changing work patterns
In 2020, many people were told they could work from home indefinitely. That made a longer commute seem irrelevant. But since 2022, more employers have been encouraging or mandating a return to the office, even if just for part of the week. For some, that means facing the reality of a long drive or a costly rail season ticket again.
2. Mortgage costs
Back in mid-2020, five-year fixed mortgage rates (75% loan-to-value) were just above 2%. Now they are hovering around 4% to 4.2% (even with the recent interest rate cut). For households that stretched themselves financially during the pandemic, this has created real pressure as fixed deals expire. In some cases, the only way to manage rising costs is to downsize or move to a more affordable area.
3. Lifestyle reassessment
During the pandemic, the appeal of more space was overwhelming. But bigger gardens mean more upkeep. Longer distances from shops, schools, or family can be inconvenient. Some people have found that the trade-offs they accepted in 2020/1, for example, being miles from the nearest railway station or amenities, are no longer worth it.
4. Second-home pressure
While not as common in Bicester itself, those who bought second homes in coastal or rural spots during the pandemic are now facing higher running costs and new council tax surcharges. That has pushed some to sell, adding more properties to the broader regional market.
5. Pure buyer's remorse
In the heat of the pandemic property boom, decisions were often made quickly and with limited viewing opportunities. Some owners are now simply realising that the house they bought doesn't suit them as well as they had hoped.
So, let us look at the cold hard facts in the British property market
In the years before Covid (2016–2020), 29.4% of homes that sold had been owned for five years or less. Over the last 12 months, that figure has risen to 34.1%. A proportional rise of 16%. So, a rise, not a flood.
If we extend the time frame to seven years or less, the difference narrows to 44.6% pre-COVID compared with 48.4% in the past year.
The real change lies in when people are moving. Pre-Covid, more sales happened in years five and six of ownership. Today, there is a clear uplift in people moving earlier, particularly in years three and four.
Bicester Property Market Stats
Looking at the stats locally, let us see what is happening in Bicester (OX25/26/27).
Of the 730 homes for sale or sold stc …
75 of those were purchased between the middle of May 2020 and the end of December 2021. Meaning 10.2% of Bicester homes bought in the 18 months after lockdown are back on the market (either available or sale agreed SSTC).
They are split down:
- Detached - 31, which represents 11.7% of the detached Bicester homes for sale.
- Semi - 14, which represents 9.3% of the semi-detached Bicester homes for sale.
- Terraced/town house – 26, which represents 11.6% of the Bicester terraced/town homes for sale.
- Bungalow - 1, which represents 4.1% of the Bicester bungalows for sale.
- Flat/apartment - 3, which represents 4.3% of the Bicester flats/apartments for sale.
The impact on house prices in Bicester
Across the country, the total number of properties for sale is at its highest since 2013, and Bicester is no exception. Compared with the height of the pandemic, stock levels locally have risen sharply. While more choice is good news for buyers, it creates a more challenging environment for Bicester home sellers, especially those who overpaid in the heat of the market.
The property price growth of the pandemic years has slowed right down. Between mid-2020 and September 2022, average prices in Bicester rose significantly, as the rush for space played out. But in the past two and a half years, house growth has been almost flat.
Homes that are priced correctly still sell well, but the days of "name your price" are gone. Overpricing is particularly risky in a market with more competition. In the last three months, 35.7% of the 768,500 homes for sale had to reduce their prices.
Advice for Bicester house sellers in 2025
If you bought during the pandemic and are now considering selling, the key is to be realistic:
- Price for today, not for 2021. Use evidence from recent completions in your area, not what your neighbour sold for three years ago.
- Presentation matters. In a more cautious market, buyers are drawn to properties that feel turnkey and well-maintained.
- Be ready to negotiate. Buyers know there is more choice and will push for value.
- Choose an agent who knows the data. The best local estate agents can show you exactly how your home compares to others in terms of days on market, percentage of asking price achieved, and past selling history.
For Bicester buyers, it's an opportunity.
For those looking to buy in Bicester, the current conditions are far better than they were five years ago. There's more choice, less competition, and in many cases, room to negotiate.
The "five-year itch" means there's a steady supply of relatively modernised homes from the 2020–21 buying spree coming onto the market. Many are in good condition, as owners have only been in them for a short period.
Looking ahead
It's unlikely we'll see a return to the intense post-pandemic conditions in the Bicester market any time soon. The dynamic between supply and demand currently favours buyers, and while falling mortgage rates could shift the balance slightly, most analysts expect this to remain the case into 2026.
For Bicester homeowners, the lesson from the last five years is that property decisions made in haste can lead to changes of heart sooner than expected. Whether you are selling or buying, the most successful moves now are based on solid research, realistic expectations, and a clear-eyed view of what matters in your next home.