The Property Market in Oxford
Explore the vibrant city of Oxford in the UK, where the combination of a thriving economy, renowned education sector, and a robust housing market makes it an excellent choice for potential property investors. Here's why investing in Oxford should be on your radar:
Economy
Oxford's economy has experienced consistent growth since the 1900s, and its significance has only solidified with the expansion into new industries. The city's economy expanded by an impressive 45% since 2000, reaching a total of GBP 6.4 billion in 2022. Furthermore, it is forecasted to grow by an additional 18%, surpassing GBP 7.5 billion by 2035. This sustained growth has also led to an increase in the average GVA (Gross Value Added) per capita, which has risen by 30% since 2000. By 2035, it is expected to reach GBP 48,000, reflecting a 14% increase from 2022. Oxford's flourishing economy provides a stable foundation for property investments.
Education
Home to the UK's first university, Oxford is a renowned global hub of education. Its prestigious academic institutions have attracted students from all over the world for centuries. With approximately 43,000 full-time students, of which a third are international, they make up around 27% of the city's population. The University of Oxford consistently holds the top spot in worldwide university rankings. Additionally, Oxford Brookes University, a newer institution, was recently ranked 6th in the UK for teaching by the Times Higher Education Young University Rankings. The presence of these esteemed universities, along with a multitude of primary and secondary schools, makes Oxford an attractive location for families and assures a constant demand for rental properties.
Housing Market
Oxford boasts an exceptionally robust property market, driven by sustained population growth and long-term economic expansion. Over the past 10 years, house prices in Oxford have increased by a remarkable 68%, with a notable 9.7% increase in 2022 alone. Looking ahead, the underlying factors that contribute to this growth are expected to remain in place, leading experts to forecast an additional 26% increase in house prices in the decade following 2022. This projection outperforms the UK average expected house price growth between 2022 and 2032, which stands at 21%. Investing in Oxford's thriving housing market presents an opportunity for long-term capital appreciation.
In summary, Oxford offers a compelling investment proposition. Its thriving economy, fueled by sustained growth, sets the stage for strong returns. The city's reputation as an educational powerhouse, attracting students from around the world, ensures a steady demand for rental properties. Furthermore, the robust housing market with its history of consistent price appreciation indicates a promising future for property investments. Don't miss the chance to be a part of Oxford's prosperous real estate landscape. Contact Magnate Assets today to explore the exciting investment opportunities awaiting you in this dynamic city
Off-Plan Properties
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Oxford is a combination of a thriving economy, and a renowned education sector, with a robust housing market.
Properties in Oxford had an overall average price of £591,494 over the last year.
The majority of sales in Oxford during the last year were semi-detached properties, selling for an average price of £609,124. Terraced properties sold for an average of £536,213, with flats fetching £343,324.
Overall, sold prices in Oxford over the last year were 6% up on the previous year and 8% up on the 2020 peak of £545,830.
