OXFORD PULSE
CITY LIVING
There is much to draw people to living in Oxford. 60 miles from London by road, less than an hour by train and, for all those impoverished students, a 24 hour coach service from just £6.50 a trip. However, while the getting there maybe inexpensive, property most certainly is not. Knight Frank’s latest research on the county (October 2009) found a buoyant residential market at a difficult time nationally. Oxfordshire has weathered the financial
downturn remarkably well. House prices in the city’s best locations are whispered to be achieving in excess of 2007 levels, while quality country homes for sale in the villages are keenly sought after. Viewings have more than doubled
compared with 2008 and the number of new applicants has increased by a third. This demand is driven by a limited supply in a highly desirable area; and, says Knight Frank, the highest prices are achieved by driving competitive bidding, rather than by setting a high asking price. Oxford continues to attract buyers from
London, attracted by its excellent schools and vibrant lifestyle. So popular are the most desirable streets of the city, that some sales have achieved around £1,000 per sq ft – comparable with top London locations. In one of the worst recessions in history
the best houses have increased in value by about 5% over the past 12 months. The surrounding countryside inspires strong feelings among residents and their reluctance to move out of the county means availability is declining year on year.
A city of universities and bicycles. Below: Views all round from Radcliffe Camera
I wonder anybody does anything at Oxford but dream and remember, the place is so beautiful. One almost expects the people to sing instead of speaking.
It is all . . . like an opera.”— William Butler Yeats
OXFORD OVeRVIeW Vs UK AVeRAGe Source: FindaProperty.com data - February 2010
ReNT
sALe
Oxford % change UK % change Oxford % change UK % change vs
vs
2 Bed House £796 3 Bed House £992 4 Bed House £1,391 5+ Bed House £1,825 1 Bed Flat 2 Bed Flat 3+ Bed Flat
£630 £814
£1,172
24 MARCH 2010 PROPERTYdrum
year ago
2.31%
-2.84%
£592 £742
£1,518 £609 £771
year ago
-1.8% -1.6%
-1.83% £1,066 -4.4% -2.0% -3.1% -0.2%
2.4% £1214
-1.1% -1.5% -1.5% -1.3%
£210,609
vs
year ago
-5.9%
3.8% 6.1%
3.2% £147,211
vs
year ago
-1.5%
£262,158 0.4% £190,562 -0.2% £431.253 £656,934 £136,789
£325,400 1.6% £534,916
2.13%
£186,879 0.32% £176,822 £269,244
5.5%
£129,350 -1.2% -0.9%
£305,325 4.6%
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