FamilyGuy Posted November 24, 2008 Posted November 24, 2008 The point is that RELATIVELY Oxford house prices will not see anything like the serious drop in most of the rest of the country. A bit of background: I come originally from South Wales (yes, have been told to go back there!) and in the Rhondda valley decent terraced houses, East Oxford type, can now be bought at auction - repos - £25,000, non-repos, £35-40,000. A couple of years ago they would have fetched £70 - 90,000. Of course prices are dropping here and will go a bit lower, but never to that extent, because Oxford does have a big fat cushion of wealth and jobs. I think there are a lot of people with an agenda at the back of their minds about their own personal buying opportunities and this colours their view: they are the optimists, hoping that prices here will tumble. But do you think that Oxford will do any better than the average South East price drop? I don't believe the old EA hype that Oxford is recession proof - just look at the Howlers post about Frenchay Road. I also don't think it will do worse - on average - but certain areas will do better and certain areas will do worse. You post on a website called HousePriceCrash and expect people not to have their own agenda? BTW - been looking on PropertySnake at a few OX postcodes. Witney and Kidlington seem to be getting pretty badly hit Quote
Iron Man Posted November 24, 2008 Posted November 24, 2008 I live in South Oxfordshire and have been following property prices closely using Property Bee since June/July. Some areas have seen quite large reductions but others have barely moved! I watch about 6 areas and Didcot seems to have the most reductions. Noticed a lot of houses/flats around the £200k mark being dropped to £175k or below (presumably because of the Stamp Duty threshold). It's going to be an interesting 12+ months and I will be following it closely. I am a FTB looking for a 2/3 bed house with a small garden and a garage in a town close to my family. Quote
popeye Posted November 24, 2008 Posted November 24, 2008 .You post on a website called HousePriceCrash and expect people not to have their own agenda? Of course they will, but objective information is the most valuable and the hardest to come by. Just making the point that my view is not unduly optimistic - it depends on what you want from this site. Wish-fulfillment won't get us very far in the real world. Quote
thehowler Posted November 24, 2008 Posted November 24, 2008 But do you think that Oxford will do any better than the average South East price drop? Oxford in the mid-90s was damp, drizzly and shabby. Lost in abstruser musings the academics who held sway in the northern quadrant didn't pay much heed to home improvement - as many buyers will testify to if they've stumbled around their crumbling victorian houses when they come to the market. I see no good reason why Oxford should be a special case in terms of any national slump. Although it might be fair to say that the city's links with London are much stronger now I'm not convinced that the efficacy and cost of commuting can withstand hard times. It was always a town of scrimpers. As prices sink people will tighten their belts like the rest of the country. Iron Man - is the Didcot development still going ahead? Quote
Iron Man Posted November 24, 2008 Posted November 24, 2008 But do you think that Oxford will do any better than the average South East price drop?Oxford in the mid-90s was damp, drizzly and shabby. Lost in abstruser musings the academics who held sway in the northern quadrant didn't pay much heed to home improvement - as many buyers will testify to if they've stumbled around their crumbling victorian houses when they come to the market. I see no good reason why Oxford should be a special case in terms of any national slump. Although it might be fair to say that the city's links with London are much stronger now I'm not convinced that the efficacy and cost of commuting can withstand hard times. It was always a town of scrimpers. As prices sink people will tighten their belts like the rest of the country. Iron Man - is the Didcot development still going ahead? If you are talking about the one by the Milton Interchange (opposite the BP & McDonalds) then I believe it is as I drove past it only a few days ago and works were taking place. Didcot, Wallingford, Cholsey etc are areas I am watching very closely. Quote
FamilyGuy Posted November 24, 2008 Posted November 24, 2008 My comment about the website wasn't too serious Popeye BTW - do you own or rent? I just find it difficult to tell whether you're saying the recession and HPC will not be too bad in Oxford, and so better than the rest of the South East, or it will just not be too bad compared to the rest of the country? My feeling is at the moment, we will have a pretty bad recession, and because the House Price bubble went so high, we are going to have a reasonable fall. I'm not happy about it because it will cause misery for a lot of people, and the only real winners will be the banks. They've taken our money, and get bailed out by the government, and I can't see them giving back money, or holding off too much on house repossessions... The amount of money given to them means the taxpayers will be paying for a long time - old AD says until 2015, but that could be longer if we end up bailing out more. So in the end I don't think there's going to be too many winners among either owners or renters... God I'm a gloomy ******* today Quote
Tiger Woods? Posted November 24, 2008 Posted November 24, 2008 Used to go to the one in Plantation Rd. - it was great. Is it still good? Has been a couple of years since I have been there. The uni diving club used to meet there on Tuesdays. It looked like it went through a few managers...I got the feeling the brewery was trying to run it into the ground so they could get it rezoned for flats...not that that would be a good idea now. Was usually pleasant. Quote
thehowler Posted November 24, 2008 Posted November 24, 2008 The Gardener's on Plantation Rd is still a fine boozer. Guest ales at the pump and a few exotics in bottles. Wouldn't vouch for the food though - heart in right place but it always looks somewhat stodgy when it lands on a neighboring table. If you were a non-smoker it used to get pretty acrid in the front - and only - two rooms. I think it's better without the tobacco haze. You can taste the beer. Quote
popeye Posted November 26, 2008 Posted November 26, 2008 The Gardener's on Plantation Rd is still a fine boozer. Guest ales at the pump and a few exotics in bottles. Wouldn't vouch for the food though - heart in right place but it always looks somewhat stodgy when it lands on a neighboring table.If you were a non-smoker it used to get pretty acrid in the front - and only - two rooms. I think it's better without the tobacco haze. You can taste the beer. Thanks, Howler and D'oh for the update re the Plantation Rd. Gardeners! Family Guy: Now I own, but spent years renting, so can see that side of it too. Two thoughts about Oxford: I think the factors that in the past, before the insanity of the boom, kept Oxford prices ahead of those in most of the Midlands and S. east, will still apply after the collapse. Elsewhere, it may be as much as 50 % drop. Here, probably not more than 20-30% I have a sense that Oxford is dividing up in a different way. Now the London connection is more important, the Headington side is almost splitting off from the rest of the city while the primacy of North Oxford as the most desirable area is shifting. And yes, a lot of those academic houses are badly maintained - I know of one belonging to a well-known historian where there were slugs on the kitchen floor) - that hasn't mattered much when any old pile of bricks was worth tarting up - but it may well be more significant now. Law jobs: conveyancing is probably dead in the water at present! Bankruptcy courts may be doing brisk business. Where does that wonderful line about 'time slips and wallows in the northern avenues' come from.?If you wrote it, you are a genius! Quote
FamilyGuy Posted December 8, 2008 Posted December 8, 2008 I was just wondering - anybody go to the special event at The Renaissance in Thame this weekend? Two bargain apartments £550,000 and 495,000. I bet there was a queue stretching for miles... Harberton Heights next phase is just about complete - again, they don't look like they've dropped prices that much... and I thought Berkely homes were starting to hurt from write downs on the value of land in their bank. Of course, they could have paid exorbitant money for the land at (the old) Milham Ford School and Rycotewood College and now need to sell the last few at a high price to make enough profit... Quote
Basildon Bond Posted December 8, 2008 Posted December 8, 2008 (edited) I was just wondering - anybody go to the special event at The Renaissance in Thame this weekend?Two bargain apartments £550,000 and 495,000. I bet there was a queue stretching for miles... Harberton Heights next phase is just about complete - again, they don't look like they've dropped prices that much... and I thought Berkely homes were starting to hurt from write downs on the value of land in their bank. Of course, they could have paid exorbitant money for the land at (the old) Milham Ford School and Rycotewood College and now need to sell the last few at a high price to make enough profit... Just had a look at the website. Think they'd have more chance selling ice to eskimos than shifting these at that price. The valuations they are giving would have been top end even at the peak of the property madness. Clearly aimed solely at the BTL market from the moment of inception. Not sure about the decor either - looking at the 360 degree tour it looks like Freddie Cruger has been sharpening his claws on one of the living room walls either that or an estate agent has been playing tic-tac-toe on the wall waiting for a punter to turn up.... http://www.berkeleyhomes.co.uk/index.cfm?a...mp;mediaid=2302 Edited December 8, 2008 by Basildon Bond Quote
lemonsorbet Posted December 9, 2008 Posted December 9, 2008 £500k for THREE bedrooms?? If I had a spare £500k to splash out, I'd want at least 4 bedrooms along with a HUGE garden, in a much more remote location! Instead they're a 3 bed house with a tiny garden, which looks like you could cut the grass with nail scissors, and crammed in on an estate! Quote
OverseasInterest Posted December 17, 2008 Posted December 17, 2008 I have a sense that Oxford is dividing up in a different way. Now the London connection is more important, the Headington side is almost splitting off from the rest of the city while the primacy of North Oxford as the most desirable area is shifting. And yes, a lot of those academic houses are badly maintained - I know of one belonging to a well-known historian where there were slugs on the kitchen floor) - that hasn't mattered much when any old pile of bricks was worth tarting up - but it may well be more significant now. Now I am curious as to who that well-known historian might be... Quote
Caleb Posted December 23, 2008 Posted December 23, 2008 Hi, Thought I’d add anecdotal experience from a recent Oxford seller. A couple of months ago we sold our house in Iffley fields. We were told by 3 agents in Jan 2008 to expect ~450K. We accepted an offer in early October for 392K, completing late November. We bought the house for 362.5K in Dec 2005, so that’s ~30K gross profit, but given what we spent (double-glazed sash windows, solar water heating, etc) it was less than that, and perhaps after inflation and fees we may have broken even, perhaps even a small loss. Caleb Quote
Tiger Woods? Posted December 23, 2008 Posted December 23, 2008 I was just wondering - anybody go to the special event at The Renaissance in Thame this weekend?Two bargain apartments £550,000 and 495,000. I bet there was a queue stretching for miles... Harberton Heights next phase is just about complete - again, they don't look like they've dropped prices that much... and I thought Berkely homes were starting to hurt from write downs on the value of land in their bank. Of course, they could have paid exorbitant money for the land at (the old) Milham Ford School and Rycotewood College and now need to sell the last few at a high price to make enough profit... Berkely homes is about the only major building company that took advice from Fred Harrison concerning the house price cycle, and they have been winding down their operations in preparation for HPC. They will be one of the survivors of this. Last I looked (this was a few months ago), they were still planning on returning £3 per share to investors early next year! This of course does not mean they are immune to what is happening, just that they are better prepared than most. Quote
Basildon Bond Posted December 30, 2008 Posted December 30, 2008 I missed this article when it first came out: http://news.bbc.co.uk/1/hi/england/oxfordshire/7774842.stm The article seems to mostly mention Oxford Brookes students. THe oxford uni colleges, I guess, have a greater ready supply of properties for their students. Is there really so much demand to require this kind of behaviour are these students just nutty and/or have too much time on their hands ? Quote
popeye Posted December 30, 2008 Posted December 30, 2008 Now I am curious as to who that well-known historian might be... Sorry - lips are sealed! But it was a big N. Oxford house ... Quote
quad Posted January 10, 2009 Posted January 10, 2009 just received an update from rightmove see below finally some real low priced properties appearing in oxford, don,t know this exact property but still things are looking up (or should that be down) this will excert real pressure on prices in the area. see number 5 wow Hello quad, You asked us to check every 3 days for Properties to buy within 10 miles of Witney, Oxfordshire up to £100,000 On Jan 10, 2009 at 4:44 AM we found the following new property: 1: £85,800, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735799 New Home 2: £85,800, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735802 New Home 3: £69,400, 1 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735796 New Home 4: £50,625, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735793 New Home 5: £49,375, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735790 New Home • 5 or more matching properties were found View all property new in last 3 days Quote
Har Fast Posted January 10, 2009 Posted January 10, 2009 just received an update from rightmove see below finally some real low priced properties appearing in oxford, don,t know this exact property but still things are looking up (or should that be down) this will excert real pressure on prices in the area.see number 5 wow Hello quad, You asked us to check every 3 days for Properties to buy within 10 miles of Witney, Oxfordshire up to £100,000 On Jan 10, 2009 at 4:44 AM we found the following new property: 1: £85,800, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735799 New Home 2: £85,800, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735802 New Home 3: £69,400, 1 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735796 New Home 4: £50,625, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735793 New Home 5: £49,375, 2 bedroom , Flat, Cornerstone Court, 268 Iffley Road, OX4 - Carter Jonas, Oxford is marketing this property. http://www.rightmove.co.uk/property/11735790 New Home • 5 or more matching properties were found View all property new in last 3 days you do realise it's shared equity? Quote
Basildon Bond Posted January 10, 2009 Posted January 10, 2009 you do realise it's shared equity? They'd be overpriced even if they weren't. Take a good look at these properties and see the social housing of the future. Quote
quad Posted January 12, 2009 Posted January 12, 2009 you do realise it's shared equity? sorry about that i got so excited i forgot to read the small print, will be more careful next time before posting. but can see us heading into this territory before too long. Quote
Buy Toilet Posted January 12, 2009 Posted January 12, 2009 Is there really so much demand to require this kind of behaviour are these students just nutty and/or have too much time on their hands ? There is always plenty of demand for the nice properties in Oxford or anywhere but what the market rampers won't tell you is that there are always plenty of empty sh*tholes left over that fail to get let each year. Quote
Wad Posted January 13, 2009 Posted January 13, 2009 There is always plenty of demand for the nice properties in Oxford or anywhere but what the market rampers won't tell you is that there are always plenty of empty sh*tholes left over that fail to get let each year. Agreed. Thats why the students are queuing. They want first dibs on the best property. The rubbish will be left over. Quote
OverseasInterest Posted January 17, 2009 Posted January 17, 2009 Sorry - lips are sealed! But it was a big N. Oxford house ... Fair enough. However, if I say the road's initials are S.M., would that ring any bells? Quote
Catz Posted January 19, 2009 Posted January 19, 2009 They'd be overpriced even if they weren't. Take a good look at these properties and see the social housing of the future. You know guys, I wonder whether Oxford house prices are like everything else: you know - the papers and pundits keep telling us something is not so bad then two days later they admit it`s worse than bad, and so on.... it`s all spin. My house is in the South East and the agent wants me to take an offer of 40% of what it was worth in 2005. You can`t even check the Land Registry with any confidence, because apparently it`s now `editing out` what they call `distressed sales`, so I`m told! But it seems hard to believe that there isn`t a `hidden slump` in Oxford. Estate agents are closing and people are being laid off in Oxford too. A lot of those overpricing buyers during the boom were London commuters, and a lot of those from the CIty... the ones being laid off? What if we all said to the estate agents, `we don`t believe the prices in your windows --- get real`? Quote
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