Property Investment Logo

Property Investment

Abstract image of numbers falling

Oxford Property Prices – A Slight Dip in January

Oxford has seen a slight decrease in house prices at the start of the year, according to recent figures. The latest figures have shown a minor decline in Oxford house prices in January, with a decrease of 0.3 per cent. This drop is part of a broader pattern observed over the past year, which has resulted in a 1 per cent annual reduction in property prices within the area. As of January, the average price of a home in Oxford was recorded at £440,092, marking a slight fall from December.

Oxford vs. The South East

Interestingly, this trend in Oxford contrasts with the broader movement in property prices across the South East of England, where prices experienced a 0.6 per cent increase. Moreover, when looking at the UK overall, there was a 0.5 per cent rise in property prices, highlighting Oxford’s unique position in the current market dynamics.

Yearly Overview

Looking back over the last year, the average sale price of property in Oxford decreased by £4,600. This change positions Oxford 12th among the 64 local authorities in the South East in terms of annual price growth. This is a stark contrast to Winchester, which led the region with a 7.3 per cent increase in property prices, and Gosport, which saw a significant 14.1 per cent decrease.

First-Time Buyers and Market Segments

First-time buyers in Oxford have felt the market shifts, spending an average of £387,600 on their properties, which is £5,400 less than the previous year, yet £22,900 more than in January 2019. In comparison, those who have owned properties before paid an average of £488,800 in January, which is 26.1 per cent more than what first-time buyers spent.

Among the various types of properties, terraced houses in Oxford experienced the most significant price drop in January, with a 0.5 per cent decrease, bringing the average price to £434,369.


Posted

in