Oxford Housing Crisis? Only 1.9% of Oxford Homes Are For Sale

The Oxford Property Market is bucking the predicted post-Brexit fallout with a return to business as usual after the summer break. Unfortunately, that means a lack of choice continues.  The volume of available homes is still well down on what would be considered healthy levels last seen earlier this decade, meaning the substantial demand/supply imbalance continues. Until we start to see consistent and steady increases in properties coming on to the market in Oxford, the market is likely to see upward pressure on property values continue.

However, there may be hope for first time buyers, with homeowners looking to move upmarket and buy to let landlords looking for their next investment, the Oxford property supply crisis just might be starting to ease, as the number of new properties coming onto the market in Oxford has increased.

For example, last month OX2 saw 84 new properties coming on to the market, not bad when you consider for most of the last year the figure was in the late 60’s / very early 70’s. With the average available Oxford property value hitting a record high, pushing ever closer to £500,000 according to my research, this shortage of properties over the last two years has contributed to this ‘fuller' average property figure, but there is a glimmer of hope that the Oxford's supply crisis may be starting to ease.

1.95% of Oxford properties are up for sale. In terms of actual chimney pots, that equates to 871 properties on the market in Oxford (within 4 miles of the centre of Oxford) – which, when compared to only a year ago when that figure stood at 810, is a serious increase in the number of properties available to buy. Split down into the type of property (where known), it makes even more fascinating reading:

 

·       Detached Properties in Oxford  - 180 on the market a year ago compared to 187 on the market now – an increase of 4%

·       Semi Detached Properties in Oxford - 281 on the market a year ago compared to 302 on the market now - an increase of 7%

·       Terraced Properties in Oxford - 147 on the market a year ago compared to 166 on the market now - an increase of 13%

·       Flats / Apartments Properties in Oxford  - 173 on the market a year ago compared to 191 on the market now - an increase of 10%

This is evidence of strength in the Oxford housing market that many didn't expect. This may mean property values won't continue to grow at the same extent they have been over the last 12 to 18 months, and in some months (especially in the run up to Christmas and early in the New Year), values might dip slightly. This won't be down to Brexit but a natural re-balancing of the Oxford Property Market – which is good news for everyone.