Oxford has some of the most expensive properties in the region Vs salary

A landlord came in to my office earlier this week to discuss the affordability of property in Oxford, with the current national property market being in recovery with increasing house prices. The best advice I can give to those looking to invest in property is my secret trick of the trade.

You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

When we put this to the test, we found that Oxford currently has an average property value of around £427,000 with the average salary being £27,595. This is a  ratio of 15.49. Meanwhile in Cambridge the ratio of property values to salary is 11.5 , which suggests the property in our town is 14% less affordable than in Cambridge.

We also had a look at Abingdon and found the average salary is £29,097 and the average property value is £312,000. This means that property in Oxford is a rather significant 31% less affordable than Abingdon, with a ratio of 10.7

So what does this all mean for all us Oxford landlords? Put plainly this could mean that now is a brilliant time to invest in Oxford's property market. Despite the trend working against Oxford with it's neibouring towns on affordability it refuses to show any sign of slowing down, with the rental market continuing to flourish year on year. Why? Call me and I will explain!

 If you would like to talk to me about your potential investment, please come into our office on Woodins Way or call me on 01865 812113.

Best

Richard