Press Room
Educated Oxford Excels By 100k
Oxford commands among the highest priced properties in the country outside of London, research by email4property.co.uk has revealed.
Currently standing at £307,692, the average house price in Oxford far outstrips the national average, exceeding the latest figures published by the Department for Communities and Local Government by almost £100,000. A dynamic local economy, well supported infrastructure and high level of earnings have ensured that house prices in the city’s central postcodes have remained buoyant over recent years.
As one of the most renowned university towns in the country, the central OX1/2 postcodes in Oxford has one of the highest populations of degree educated people in the country. Over 50% of the central population hold degree level education, which is reflected in the above average earnings for the city and a very low level of unemployment. All of Oxford’s top ten most expensive streets fall into this central district, with the highest priced property in 2006 reaching £3million.
The supply of homes in Oxford has increased dramatically on average each year since the turn of the century. As prices continue to force buyers out of London, Oxford has remained an attractive option for homebuyers looking to move out of the capital in addition to the many who opt to remain in the city after university.
David Bexon, Managing Director of email4property said: “Steeped in academic tradition, it is unsurprising that the typical homebuyer in Oxford is of above average wealth, when viewed on a national level. Many university graduates choose to remain in the cities in which they have studied and Oxbridge students are no exception. With its close links to London and journey times of under an hour, Oxford has proved a popular town with commuters traveling into the Capital, and this is reflected in its strong property prices.”
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Article date: 6/30/2007 12:00:00 AM