Oxford Property Market Improved by 31.6% Over Pre-Pandemic Levels

Has there ever been a better time for Oxford home sellers?

The Oxford property market, for people looking to sell, is at its sturdiest for at least the last five years with home buyers jumping onto the Oxford property ladder with abandon.

Oxford house prices are anticipated to rise throughout 2021 after the Stamp Duty cut (and subsequent extension until the summer/autumn) and the newly revealed 95% mortgages for Oxford first-time buyers (and Oxford homeowners with minimal equity). 

In addition, the continued low interest rates and the demand for larger homes because of lockdown, means the Oxford property market should remain bullish for a while. There is a surge in potential buyers putting themselves on mailing lists with Oxford estate agents, making the biggest disparity between supply and demand for Oxford property for many years. 

Fears of a cliff edge for the Oxford housing market at the end of March have dispersed, somewhat due to the Stamp Duty tax deadline extensions, but also because the elevated level of buyer demand caused by the three lockdowns has continued to swell since the start of 2021 meaning that today …

48% of Oxford properties on the market are 

Sold (STC)

Interesting, when utilising data from theadvisory.co.uk website, the Oxford average for the last five years has only been 36%, meaning there has been an uplift of 31.6% in the proportion of Oxford properties sold (STC) compared to that five year average.

Yet what can’t be forgotten is that 9 out of 20 Oxford house sellers are also Oxford house buyers as well, so whilst they do indeed achieve a higher price for their Oxford property, they also have to pay more for the Oxford property they want to buy.

So, how much will Oxford house prices rise by?  

Like all things in life, it’s all about demand and supply. I have discussed the demand, yet what about the supply of properties for sale? 

There are 20% fewer Oxford properties for sale today compared to 8 years ago

Whilst February saw a lower than normal level of new properties coming onto to the Oxford property market, the easing of lockdown road map and faster rollout of the vaccine is also persuading more Oxford homeowners (especially those older Oxford homeowners who have had their jabs) to start making the first steps towards moving home in 2021.

This will mean there will be more Oxford properties available for sale in the conventionally busier post Easter market in the coming weeks and months which should cause more equilibrium and help keep Oxford property prices in check.

These are interesting times for the Oxford property market. If you are an Oxford homeowner or Oxford landlord looking to buy or let your Oxford property in the coming weeks or months, don’t hesitate to drop me a line to discuss what all the points raised in this article mean to you.