OX1 PROPERTY MARKET UPDATE OCTOBER 2018

This is the property market update for Oxfordshire’s OX1 area in October. As we head towards the end of the year we are seeing increased activity with more recorded house sales than the previous month. People are generally keen to get moving before Christmas where possible.

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Oxford House Prices vs Oxford Rents since 2006

The Oxford housing market is a fascinating beast and has been particularly interesting since the Credit Crunch of 2008/9 with the subsequent property market crash. There is currently some talk of a ‘property bubble’ nationally as Brexit seems to be the ‘go-to’ excuse for every issue in the Country. Upon saying that, looking at both what we do as an agent, and chatting with my fellow property professionals in Oxford, the market has certainly changed for both buyers and sellers alike (be they Oxford buy to let landlords, Oxford first time buyers or Oxford owner occupiers looking to make the move up the Oxford property ladder).

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12% Drop in the Oxford Property Market

The number of residential property transactions in Oxford will be 12 per cent lower in 2018, compared to 2017.

According to my research, the seasonally adjusted statistics for our local authority area suggest with the number of properties already sold in 2018, and the number of properties currently under offer or sold subject to contract (allowing for property sales to fall through before exchange of contracts) we, as an area, will end the year 19.96 per cent lower compared to 2017.

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