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It’s no secret that the Oxford housing market is one of the most expensive in the country. Despite this, the city remains a popular destination for homebuyers, with prices rising steadily yearly. With its world-renowned university and vibrant city center, it’s no wonder that so many people are willing to pay a premium to live in this historic city. If you’re considering buying a property in Oxford, it’s essential to be aware of the current trends to make an informed decision. Here’s a rundown of the latest Oxford housing market trends for 2022.
Oxford Housing Market Trends For 2022
Prices are on the rise
In recent years, prices in the Oxford housing market have increased significantly. In 2022, house prices are expected to rise at a slower rate than in previous years. The average price of a property in Oxford is currently around £395,347, which is a 15.2% increase over the past 12 months. This is a significant increase, so it’s important to factor this into your budget if you’re planning on buying a property in Oxford.
Rental prices are also increasing
Rental prices in Oxford have been on the rise in recent years, and this trend is expected to continue in 2022. However, Oxford is still a relatively affordable city to rent in, but it’s important to be aware of the increased costs if you’re on a tight personal budget. If you’re looking for rental property in Oxford, you’ll need to be prepared to pay a little more than you would have a few years ago.
There is high demand for properties
Oxford is a very popular city, and this is reflected in demand for properties. There are currently more people looking to buy or rent a property in Oxford than there are properties available, so competition is high.
If you’re planning on buying or renting a property in Oxford, it’s important to be prepared to move quickly when you find a property you like. Properties in Oxford don’t stay on the market for long, so you’ll need to be ready to make an offer as soon as you find a property that meets your needs.
There is a shortage of properties
The high demand for properties in Oxford has resulted in a shortage of available homes. No newly built properties are being constructed to meet the demand, so the only properties available are those that are already on the market. This has resulted in prices rising, as more people are competing for the same properties.
If you’re thinking of buying a property in Oxford, it’s important to be aware that you may have to pay more than you would in other parts of the country. However, Oxford is still a popular choice for many buyers, so it’s crucial to weigh the pros and cons before deciding.
Oxford is a popular choice for investors
Oxford is a popular choice for investors, as the city offers a lot. The university creates a stable economy, and the city is full of history and culture, making it an attractive destination for tourists. The city is also well-connected, with good transport links to London and other major cities. This makes it a good choice for those looking to buy a property to rent out, as there is a high demand from students and professionals.
The housing market is also strong, so investors can expect good investment returns. If you’re considering investing in Oxford, it’s vital to seek professional advice to ensure that you’re making a wise investment.
How to get the best deal when buying or selling a home in Oxford?
Knowledge is power, so it’s essential to do your research before buying or selling a property in Oxford. An excellent place to start is by speaking to AVRillo, who are experienced residential conveyancers in Oxford. AVRillo can help you to understand the current market trends and advise you on the best time to buy or sell. They can also help to negotiate the best possible price for your property and provide a range of other services to make the process as smooth and stress-free as possible.
Conclusion
In 2022, the average price of a home in Oxford is expected to rise even though there is already a high demand for properties. Rental prices are also increasing, but Oxford is still a relatively affordable city to rent in. If you’re looking to buy or rent a property in Oxford, it’s important to be prepared to move quickly when you find a property you like.
If you’re considering investing in Oxford, it’s essential to seek professional advice to ensure that you’re making a new investment. AVRillo residential conveyancers in Oxford are experienced in the Oxford housing market. We can provide you with the advice and guidance you need to make the best decision for your needs.
