As Oxford’s popularity grows so does it property market

Why is Oxford so popular?

The Great Barn, Chalgrove, Oxfordshire on the market with Carter Jonas for £1,650,000

Mount House, Oxford – a two bedroom, two bathroom apartment on the market with Carter Jonas for £749,500

Over the past two years, the Oxford property market has demonstrated significant growth. During March 2020 to July 2021, the main peak of the pandemic, Carter Jonas saw house prices in Oxford grow 10%, and 12% in the wider Oxfordshire area.

However, Carter Jonas also found that detached homes saw the most price growth during the pandemic at 12.9% in Oxford, and at a remarkable 13.8% in Oxfordshire. This was largely due to a surge of families who became attracted to the high standard of education across the county and the city of Oxford itself. A large percentage of these buyers came from further afield across the UK, as they recognised the strength of an investment in the area; although the excellent academia is a clear draw, many buyers also recognise the fun and active lifestyle the region can offer a family.

Simon McConnell, Partner and Head of Residential Sales at Carter Jonas in Oxford comments, “We had so much interest from Londoners during the heat of the pandemic. The villages surrounding the city were where most of our clients were looking for their new homes. Their main motivation for moving to Oxford was a desire for a change in lifestyle for their families. As many buyers have adapted to a flexible style of working, they now no longer need to be in their London offices a large amount of the week.

Characterful and charming cottages were most in demand for these buyers, as many moving from city to country wanted to embrace a new life in the English countryside. The most soughtafter properties here were usually priced over £500,000.

North Oxford is also very popular with families due to its amazing nearby schools, and the streets in Central North Oxford always receive a high amount of interest. The Edwardian and Victorian architecture coupled with the sought-after catchment area location, places a premium on any property in this district of the city. Here, properties will sell for at least £3,000,000 and the competition can be fierce. Over the past year we have seen bidding wars on some properties with the total number of offers going into double figures, and many properties selling for 10-25% over asking price.”

CARTER JONAS – Oxford

www.carterjonas.co.uk