Oxford property prices

This article was published in the Oxford Mail on 20/07/2017 and is re-published in full).  
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OXFORD has been highlighted as one of five top growth areas for house prices over the past decade.
Growth in UK house prices has slowed in 2017 but new figures released by the UK House Price Index showed prices in Oxford rose by 43.5 per cent over the past decade.
Cambridge showed the second-highest increase over the decade with a 55.9 per cent increase, behind London with 61.7 per cent.

In Oxford in 2007/2008 the average house price in Oxford was £289,855, compared to £415,527 in April.

Kate Faulkner, property expert on website propertychecklists.co.uk, said: “It’s clear that property prices continue, in the main, to slow.

“Rightmove’s lead indicator on how sellers are feeling suggests that asking prices have reduced for the first time since 2009, although there is a ray of light coming from Nationwide and Hometrack, suggesting a slight uptick this month.

“In reality, what we are seeing is a natural slowdown from the recovery in the South and East, while in the rest of the UK prices have done well in the last few years, albeit not as robust as their southern and eastern counterparts.”

Ms Faulkner added that property market analysts Hometrack said this month that “the annual growth rate in London (3.3 per cent) was at the lowest for five years, but with signs of ‘bottoming out’.
The cost of the average home nationwide still increased by 4.7 per cent in the year to May 2017.
Office for National Statistics figures showed a drop from the 5.3 per cent rise in the year to April, with the average UK house price £221,000 in May.