We help you find the right agent
At lofti we want to simplify your life and help you buy, sell or rent your property. We have assembled all the agent in Oxford to help you find the perfect agent for you
Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Oxford, Oxfordshire.
From the average asking price of houses for sale in Oxford, to the growth of the population in the area, all will be talked about regarding the city of Oxford. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
What’s the rental yield in general for the city of Oxford?
Are there new houses being built in Oxford to make it grow?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Oxford at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Oxford growth rate | -1% | 7% | 9% |
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Oxford gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Oxford.
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Oxford, currently, £0 people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area and how much you can charge for rent in your ast (assured tenancy shorthold).
Are you considering other cities with houses for sale?
You can consult our list below that goes over a list of cities not necessarily in South East, allowing you to find similar places to Oxford:
- darlington in South East
- adbaston in South East
- aspley in South East
- clayton in South East
- bellochantuy in South East
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
What is the final sale price of a house in Oxford?
In Oxford, the average sale price of a house for sale is in fact £387,627. This is dependent on the 10 year population growth of Oxford being 7%. Growing populations are more likely to inflate the prices of houses for sale in the city of Oxford.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £535,168 |
| Aerage sold price (semi-detached) | £349,355 |
| Aerage sold price (terraced) | £311,680 |
| Aerage sold price (flat) | £217,525 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Oxford.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £3,684 |
| Aerage sold price/sqft (new build) | £3,784 |
| Aerage sold price/sqft (old stock) | £3,637 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £3,789. This means if you are just looking out the houses sold in Oxford in general and didn’t take into consideration the type of build. For example, a new build.
In Oxford, what is the asking price in general for a house for sale?
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.
As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Oxford is £479,503.
Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Oxford is useful when negotiating and knowing what to expect for every type of house for sale.
Finding the ideal house for sale for you
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Oxford
- affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
- Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
- Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
- Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
- EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
- Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
- Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
- Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
- Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
What kind of demographics does the city of Oxford have?
What is a social grade score and how does this relate to Oxford?
In the city of Oxford, the social grade score of the area is 32%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Oxford.
| 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 |
What’s the crime rate in Oxford?
Within Oxford, the number of people committing crimes is 7100% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 7100% figure carefully.
Is the city of Oxford deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Oxford, currently, £0 people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
In the city of Oxford, is there a lot of green space?
In the city of Oxford, there are 11 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Oxford is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
How much do people in Oxford earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Oxford, the average income is £56,200.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 32% to decide on what the demographics are like in the area.
What does the population of Oxford look like?
In total, the number of people in Oxford is 111793. 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.
In the city of Oxford, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Oxfordshire for example.
These demographics for Oxford may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Oxford in South East.
In Oxford, how educated are people in general?
In the city of Oxford, 31% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Oxford is £56,200.00. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
Professional advice for houses for sale in Oxford
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
FAQ (Frequently Asked Questions)
Do properties in Oxford offer renovation potential?
Oxford is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 8 each month, attaining a success rate of nan and a total population of 111793. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place
On a monthly basis, how many property transactions take place in Oxford?
In the city of Oxford, there are 8 and in the total for the UK, there are around 1.1 million property sales.
What is the population change each year in a city like Oxford?
When evaluating the population trajectory of Oxford, explore the decade-spanning population shift of 7% and the five-year modification of population of 4%. By drawing comparisons, see if demographic changes in your chosen area is
In the larger vicinity of Oxford, what is the cost of houses available for sale?
The average asking price of a house in Oxford is currently £2,261 based on the average price per square foot.
Does opting for a house for sale in Oxford come with a hefty price tag?
Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Oxford, this figure stands at £387,627, while the UK average is £286,500.
0 Comments