leemo

Oxford

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Has anyone else noticed a sudden sharp jump in prices in Oxford recently? I still get the Rightmove email through, and asking prices seem to have suddenly become very "optimistic". Will be interested to see what people are actually paying when the land registry figures come out.

For example, this one has been on the market since March 2009, so what has the seller done? Increase the price from £450k to £600K, of course. Also, it's hideous.

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Ah, but they've taken an artistic photo of a garden sunset through a bunch of flowers. That will easily add £100K to the asking price.

Am now waiting for them to do the same with my favourite ever piece of real estate: a crumbling garage - er, sorry, a "studio" appartment in Iffley which doesn't even have a kitchen!

http://www.rightmove.co.uk/property-for-sale/property-17898897.html

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Has anyone else noticed a sudden sharp jump in prices in Oxford recently? I still get the Rightmove email through, and asking prices seem to have suddenly become very "optimistic". Will be interested to see what people are actually paying when the land registry figures come out.

For example, this one has been on the market since March 2009, so what has the seller done? Increase the price from £450k to £600K, of course. Also, it's hideous.

I think you're looking at the higher end of the market to I and are seeing different results. When I started looking about a year ago I set up right move alerts for 3 bed houses within the ring road for under £230k. Anecdotally I've been getting more alerts in the last 2 months than I had been before. There are a few stubborn houses that haven't sold for over a year but now I think houses that would have been nudging £250k have dropped down below £230k.

Edited by assetrichcashpoor

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This came on today, asking £200k.

http://www.rightmove.co.uk/viewdetails-4834780.rsp

I'm sure they would have been asking atleast £220k last year.

Will be an interesting one to watch.

Many properties seem to be sticking that would have sold very quickly last year.

Oxford is defintely down 5% by my reckoning, and if this 200k place does not shift quick I will be thinking more along the lines of 10%.

The above is the first post on this thread. How much do you think that this house (3 bed - Cornwallis Road, Florence Park, Oxford) is worth now?

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The above is the first post on this thread. How much do you think that this house (3 bed - Cornwallis Road, Florence Park, Oxford) is worth now?

Wild guess with no research - £250k.

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Not sure about £500k, think it was £1.5m with Penny Sinclair ?

Not this one?

http://www.zoopla.co.uk/property/4a-longworth-road/oxford/ox2-6ra/17556639

Offers in Region of £1,200,000

Longworth House is a superbly renovated Victorian property built in 1887 with four bedrooms, gardens and off street parking. This stylish home offers a contemporary lifestyle surrounded by period features with access to Port Meadow and the City Centre.

Marketed by James C Penny, Oxford .

and then

Guide Price £1,000,000

Longworth Road, Central North Oxford

4 bedroom semi-detached house

Marketed until 09 Aug 2011

Just gone for

25/07/2011 Longworth House, 4a, Longworth Road, Oxford, Oxfordshire, OX2 6RA Freehold semi-detached house map

£930,500

Edited by easybetman

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I can sense you blowing and huffing when you said that.

I think you can get a Starck suite for about 1000, or am I living on another world?

Granite kitchen tops and Starck bathrooms aint cheap you know.

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"Great access to road networks". A rare occasion of underselling a property. I saw this a couple of years back and apart from the road, it struck me that it needed underpinning or rebuilding at the front and/or knocking down ;)

My link

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"Great access to road networks". A rare occasion of underselling a property. I saw this a couple of years back and apart from the road, it struck me that it needed underpinning or rebuilding at the front and/or knocking down ;)

My link

Nice cheap houses round there actually, except the noise and hazard from A34. But for someone who just want a cheap place to live,

it is not bad.

The last one there was asking similar prices and was not sold until it got down to £250k ish.. but that was during a housing bounce..

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Newbie here, have been holding off buying for house in Oxford for years, despite having a reasonably respectable deposit and good credit history, in the vain hope that house prices here will come down, but I've not seen much evidence of this - at best they seem to have stopped rising so fast, though perhaps I've missed something?

Anyway, we're starting to get sick of paying £900/month rent for a (small) 2 bed terrace house in Headington (though its nice enough) and we're actually starting to think about buying, as prices don't seem to be coming down and perhaps never will here and soon I'll be too old to get a 25-year mortgage... The problem is that a house similar to the one we're living in now in an "okay" area would likely be well over £250k and we're not going to be able to get a mortgage for that much (probably only for £200k, £225k tops), and even if we could, the monthly payments would stretch us to the limit. Is a flat all we're likely to get for less than £225k within the ring road in Oxford?

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Newbie here, have been holding off buying for house in Oxford for years, despite having a reasonably respectable deposit and good credit history, in the vain hope that house prices here will come down, but I've not seen much evidence of this - at best they seem to have stopped rising so fast, though perhaps I've missed something?

Anyway, we're starting to get sick of paying £900/month rent for a (small) 2 bed terrace house in Headington (though its nice enough) and we're actually starting to think about buying, as prices don't seem to be coming down and perhaps never will here and soon I'll be too old to get a 25-year mortgage... The problem is that a house similar to the one we're living in now in an "okay" area would likely be well over £250k and we're not going to be able to get a mortgage for that much (probably only for £200k, £225k tops), and even if we could, the monthly payments would stretch us to the limit. Is a flat all we're likely to get for less than £225k within the ring road in Oxford?

If you must buy to live (and not having an investment hat of any sort on) and expect to remain in Oxford for a long time, if you do a central postcode OX1 3HY and search within 1 mile / 3 miles on RM, there are a few properties that are still under £250k. If you are willing to rent a room out, that might work.

However, as often discussed here, £900 rent is not comparable to £900 mortgage repayment as the commitments are totally different.

Finally, you are of course under zero obligation to offer the asking price or anything close to it.. offer what you think the place is worth.

Edited by easy2012

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If you must buy to live (and not having an investment hat of any sort on) and expect to remain in Oxford for a long time, if you do a central postcode OX1 3HY and search within 1 mile / 3 miles on RM, there are a few properties that are still under £250k. If you are willing to rent a room out, that might work.

Thanks for the tip, though can't see us wanting to rent out a room, we only got married 2 years ago and moved in together only shortly before and before that I spent years in shared houses and feel I've "done that"... I do see us being in Oxford for a long time, and whilst not expecting to make any money in terms of the house itself increasing in value significantly (or at all in the short-medium term), at the end of 25 years (or sooner) we should own the house and be able to live rent/mortgage free in our retirement, at least.

Most of my deposit money has been tied up in unit trusts in the stock market for the last 10 years, and their investment performance has not exactly been spectacular, think the only thing I own that has significantly gone up in value are some gold sovereigns I bought back in 2007, though I suspect their value has peaked or is near to it

However, as often discussed here, £900 rent is not comparable to £900 mortgage repayment as the commitments are totally different.

True, but it still means I'm paying someone else's mortgage for them, when I could be paying off my own...

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Newbie here, have been holding off buying for house in Oxford for years, despite having a reasonably respectable deposit and good credit history, in the vain hope that house prices here will come down, but I've not seen much evidence of this - at best they seem to have stopped rising so fast, though perhaps I've missed something?

Anyway, we're starting to get sick of paying £900/month rent for a (small) 2 bed terrace house in Headington (though its nice enough) and we're actually starting to think about buying, as prices don't seem to be coming down and perhaps never will here and soon I'll be too old to get a 25-year mortgage... The problem is that a house similar to the one we're living in now in an "okay" area would likely be well over £250k and we're not going to be able to get a mortgage for that much (probably only for £200k, £225k tops), and even if we could, the monthly payments would stretch us to the limit. Is a flat all we're likely to get for less than £225k within the ring road in Oxford?

I am in almost exactly the same situation as you and frankly, you have come this far, don't risk it now. Look at the trends, Prices are falling everywhere now and the tide might be slow to turn but it is turning. Once it gains momentum it will really become more affordable. I am renting at the moment and a nice place at that. Used to pay almost the same as you for a place near the shell station. Live a bit further away now and the money goes a lot further. Don't get suckered into it, everything is pointing to disaster in the economy and anyone who says it won't happen just aren't seeing the facts. 20 years ago they said it could never happen in Japan, then the US more recently, then Europe, Ireland and now pretty much everywhere but the South East, although frankly it's only prime London now that is holding up (and barely at that). My calculations show that prices in the bracket I am looking at are falling faster than what I would nominally be losing if combining everything into a net worth calculation (ie interest on my fairly substantial savings - rent compared to mortgage - depreciation in the value of house. At least wait it out for this year. The UK will officially enter a recession this year and then we'll get a clearer idea of where things are going.

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when I could be paying off my own...

In Oxford, we all breathe the opium of high house prices. If you're not trapped, why don't you move somewhere you can afford a house you like?

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I am in almost exactly the same situation as you and frankly, you have come this far, don't risk it now. Look at the trends, Prices are falling everywhere now and the tide might be slow to turn but it is turning. Once it gains momentum it will really become more affordable. I am renting at the moment and a nice place at that. Used to pay almost the same as you for a place near the shell station. Live a bit further away now and the money goes a lot further. Don't get suckered into it, everything is pointing to disaster in the economy and anyone who says it won't happen just aren't seeing the facts. 20 years ago they said it could never happen in Japan, then the US more recently, then Europe, Ireland and now pretty much everywhere but the South East, although frankly it's only prime London now that is holding up (and barely at that). My calculations show that prices in the bracket I am looking at are falling faster than what I would nominally be losing if combining everything into a net worth calculation (ie interest on my fairly substantial savings - rent compared to mortgage - depreciation in the value of house. At least wait it out for this year. The UK will officially enter a recession this year and then we'll get a clearer idea of where things are going.

In Japan, central Tokyo remains extremely expensive, (something like today Mayfair prices), outside the area, it took about 20 years for the price to fall 50% and 20 years is most of one's life. Sometimes we are victim of the circumstances/environment/situation and we just have to make the best out of it. However, I certainly don't see house price rising this year or next, so other than the rental which the poster believe is "paying for other people mortgage", there isn't that much to loose for waiting. Ultimately, there will be some force sellers.

Not sure if I want to live outside the ring road if I have to work inside the ring road though..

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In Japan, central Tokyo remains extremely expensive, (something like today Mayfair prices), outside the area, it took about 20 years for the price to fall 50% and 20 years is most of one's life. Sometimes we are victim of the circumstances/environment/situation and we just have to make the best out of it. However, I certainly don't see house price rising this year or next, so other than the rental which the poster believe is "paying for other people mortgage", there isn't that much to loose for waiting. Ultimately, there will be some force sellers.

Not sure if I want to live outside the ring road if I have to work inside the ring road though..

I'd like to know how long you would wait.

A five year span is about enough for most.

Many old timers to these boards have bought and sold in the last 10 years, then bought or sold again.

As for living outside the ring road Oxford, depends on a lot of factors.

I find the southern and south easterly approach quite nice.

The Eastern and south eastern approach is a mess.

Getting round to the northern side even at 7 in the morning is not easy.

It's bicycle country at the best of times.

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I am getting quite a lot of marketing emails from Rightmove recently of properties reduced in price. Anyone else noticed this?

Do you think it is coincidental, ie., the price is reduced and therefore they are just naturally announcing it - or is it perhaps a change of marketing strategy to highlight the direction of the market?

Anyway, the drops are mostly pretty small, but every little helps

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