Whenever looking for a house for sale in the UK or in Oxford, it is vital you look at the market trends and house price fluctuations in the wider area of Oxfordshire too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Oxford.
In this article, we will be looking at the city of Oxford in detail so you know how to navigate the area and have a better understanding on where to invest.
A house for sale appropriate to your needs
What parameters impact the final price of a house for sale in Oxford?
Here below is our list with the most important ones:
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House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
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House Location – the actual location of a house for sale drastically changes the final price of a property
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Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
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Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
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Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
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Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
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Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
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Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
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Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
Professional advice for houses for sale in Oxford
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
How are rental yields of the houses for sale different to the rest of the UK in Oxford?
Is the housing market in Oxford growing?
Before committing to Oxford to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Oxford growth rate | -1% | 7% | 9% |
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Oxford is building housing to find your answer.
If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.
This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.
The table below represents this data and compares Oxford to Oxfordshire and the broader suburb of the UK; South East.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Oxford | 3.9% | £1,406 | 117% | 13.1% |
| Oxfordshire | 3.64% | £1,404 | 124.23% | 15.46% |
| South East | 3.58% | £1,301 | 127.50% | 16.69% |
Let’s assume you want to sell the house you’re looking to buy in Oxford for profit in the future, in this case, looking at the data for the number of houses sold per month in Oxford would give you an idea of whether the area is actively getting new investors. This figure is 90.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Oxford. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.
The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.
On average, what is the figure for the asking price of a house for sale in Oxford?
On average, in Oxford, the asking price for a house for sale in the area is £479,503.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Oxford. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
Average price of houses for sale in Oxford
| Average asking price (1 bed) | £195,597 |
| Average asking price (2 bed) | £317,710 |
| Average asking price (3 bed) | £416,070 |
| Average asking price (4 bed) | £608,330 |
| Average asking price (5 bed) | £705,390 |
After looking at this table about prices of houses for sale in Oxford, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £2,261 will help them to have a more holistic understanding.
Other cities you can consider looking for with houses for sale
You can assess the various houses for sale offered in the area by consulting this list of cities in South East, the same UK region as Oxford:
- Aston-Tirrold in South East
- Baldslow in South East
- Tonbridge in South East
- Charlwood in South East
- Horsell in South East
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
What are the people like in Oxford?
What’s the crime rate in Oxford?
In Oxford, for every 1000 people, there is currently a crime rate of 71. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (71 for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
In Oxford, how educated are people in general?
Interestingly, the percentage of people who have a degree in the city of Oxford is 31%. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Oxford is £56,200.
Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.
Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.
However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.
The city of Oxford, situated in Oxfordshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Oxford and its demographics will be compared to its wider location (South East). This includes population size, growth and population education now and into the future.
These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Oxford. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Are the people in Oxford earning a lot?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Oxford. Compare the area’s average household income of £56,200 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 32% for more conclusive data on the affluence of the area.
In the city of Oxford, is there a lot of green space?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Oxford, the city has 11.5 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Oxford.
In Oxford, how has the population changed?
In total, the number of people in Oxford is 111,793. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Oxford, depending on where exactly you are.
How has Oxford changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Oxford has changed by 4%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 4% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Oxford?
7% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Oxford have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Are the people of Oxford deprived?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Oxford, in particular, the deprivation levels are 16%.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
What is a social grade score and how does this relate to Oxford?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Oxford compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Oxford, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 32%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| Social Score | Category | The proportion of the UK population (%) |
|---|---|---|
| A | Professional, managerial or administrative | 4 |
| B | Intermediate managerial or professional jobs | 23 |
| C1 | Supervisory, junior managerial or professional jobs | 29 |
| C2 | Skilled manual workers | 21 |
| D | Semi and unskilled manual workers | 15 |
| E | State pensioners, casual & lowest grade workers | 8 |
In general, for the city of Oxford, what are the final purchase prices for the houses for sale?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Oxford. In Oxford, this sale price works out to be £387,627. As an example, a factor like population growth over the last 10 years which works out to be 7% in Oxford and impacts house prices of the houses for sale.
| Housing category | Total final sale price |
|---|---|
| Average sold price (detached) | £535,168 |
| Average sold price (semi-detached) | £349,355 |
| Average sold price (terraced) | £311,680 |
| Average sold price (flat) | £217,525 |
Above, the exact type of house is also shown to vary in price in a table in Oxford. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
| Housing category | Sale price per square foot |
|---|---|
| Average sold price/sqft | £3,684 |
| Average sold price/sqft (new build) | £3,784 |
| Average sold price/sqft (old stock) | £3,637 |
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Oxford which is £3,789. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
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