Most weeks, my articles on the Oxford property market tackle some of the big issues about the local property market, such as the lack of new homes being built in Oxford, the trials and tribulations of being a Oxford buy-to-let landlord and the future of the Oxford property market .. yet in this article, I wanted to give you some fun facts about the Oxford property market – which is the largest street in OX1 by the number of properties on it?
The biggest street in OX1, when it comes to the number of houses on it is Roger Dudman Way, with 454 homes. In second place is Marlborough Road with 255 homes and in third is Abingdon Road with 234 homes.
Yet, size isn’t everything and the most valuable street of the top 20 biggest streets is Marlborough Road at £132.7m with an average value of £520,000 per property.
The 2 streets with the greatest number of movers in the last 3 years are Kennington Road, with a saleability rate of 10.6% and The Avenue with a saleability rate of 11.2%, with White House Road having the highest saleability rate of 12.1%.
Yet, on a more serious note ..
The basic rudiments of the Oxford property market remain principally healthy in many parts of Oxford, yet the existing political environment means that the vital element of confidence has been diminished slightly in certain parts, and that is triggering a minority of potential property purchasers and house-sellers to vacillate, yet with unemployment at an all-time low, a record number of people with a job, ultra-low interest rates and decent mortgage availability (with the Banks and Building Societies tending to drop mortgage rates instead of increasing them), those Oxford first time buyers (and especially Oxford buy-to-let landlords) who have adjourned their next house purchase because of perceived political uncertainty should be reminded that talking to many of my fellow Oxford agents they have more homes on their books than at any time for the last three or four years, so there is a greater choice of Oxford properties to call your next home/BTL investment with a potential of securing a great property deal in the next month or so.
Irrespective of what happens with Brexit, Oxford people will still need a roof over their heads and as I have mentioned on a number of occasions, I have proved beyond doubt we aren’t building enough homes both locally in Oxford and nationally. If supply is limited and demand increases (as the population grows and we get older), prices in the medium to long term can only go in one direction. Upwards!
So, whatever happens with BoJo and Brexit – why wait, because once we get over that hurdle, there will just be another hurdle and another hurdle and by which time – we will be in 2029 and you would have missed the boat. We survived the Global Financial Crash, 3-day week in 1970s’, hyperinflation etc etc … yet the choice is yours.
Tristan Batory | Associate
Fine & Country Oxford
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