[leemo]

This came on today, asking £200k.
http://www.rightmove...ils-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%.

[Wankan]

Try to keep us posted
Thanks

[shavedchimp]

leemo, on Oct 13 2005, 07:48 PM, said:

This came on today, asking £200k.
http://www.rightmove...ils-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%.

Friends of mine bought a similar place to this about 3 years ago for £140,000. I won't consider houses in this area reasonably priced until prices get back to below that level. £200k for the house you posted is at least £60K too much in my opinion - call me old fashioned

Peter

[Wankan]

shavedchimp, on Oct 14 2005, 04:42 PM, said:

Friends of mine bought a similar place to this about 3 years ago for £140,000. I won't consider houses in this area reasonably priced until prices get back to below that level. £200k for the house you posted is at least £60K too much in my opinion - call me old fashioned

Peter

Peter , you're old fashioned

[shavedchimp]

If average prices in Oxford are around £220,000 then what is the actual price paid? Does anyone know if vendors are getting 100% or their asking price here still?

Old Fashioned Peter

[RET]

Yes the numbers do appear to support what you say (although of course it's difficult to compare properties without looking at how smart/extended they are etc).

On that road ourproperty says that the sales since 2004 are:


10 May 2005
62 Cornwallis Road, Oxford,
Oxfordshire OX4 3NL
Semi-Detached
£209,500

30 Mar 2005
61 Cornwallis Road, Oxford,
Oxfordshire OX4 3NN
Semi-Detached
£202,500

22 Nov 2004
23 Cornwallis Road, Oxford,
Oxfordshire OX4 3NP
Semi-Detached
£187,000

28 Oct 2004
90 Cornwallis Road, Oxford,
Oxfordshire OX4 3NL
Terraced
£210,000

15 Sep 2004
80 Cornwallis Road, Oxford,
Oxfordshire OX4 3NL
Semi-Detached
£195,000

8 Sep 2004
20 Cornwallis Road, Oxford,
Oxfordshire OX4 3NP
Semi-Detached
£213,500

25 Jun 2004
98 Cornwallis Road, Oxford,
Oxfordshire OX4 3NL
Terraced
£215,000

16 Jun 2004
7 Cornwallis Road, Oxford,
Oxfordshire OX4 3NP
Semi-Detached
£225,000

23 Apr 2004
79 Cornwallis Road, Oxford,
Oxfordshire OX4 3NN
Terraced
£186,000

9 Jan 2004
77 Cornwallis Road, Oxford,
Oxfordshire OX4 3NN
Semi-Detached
£188,000

However, as shavedchimp says, prior to 2004 they were a lot lower so we're really just seeing a little froth coming off.

Friends of mine put their house on the market last week. It's sub-£200K and they had 6 viewers on the first day. Will keep you posted.

[leemo]

The property I mentioned was had been on the market last year. At 210k. So asking dropped 5% in 1 year.

Agree its still early days and whilst prices are off their peaks, they still are much higher than they were a few years ago.


BTW. I've been plotting the amount of stock for sale less than 200k in OX4 according to rightmove. Whilst the trend was a gentle decline from around 150 in June to 120 in mid October, the trend has just been broken and we are back at 135.

So although there is some bullish news around at the moment (eg increased approvals, haliwide reports) it seems the effect of this is to mainly bring the sellers out of the woodwork.

[RET]

Update on OX. My friends' sub-200K house within ringroad sold within 10 days of viewing. Loads of people round to see it. Not sure what % of asking but I know that they were basically waiting for the asking.

I also see that shakerbaby's mate's house has sold.

I feel (but cannot prove) that things are starting to pick up here esp at the low end. May be wrong and just affected by a few annecdotes though...

[leemo]

I agree things have picked up a bit; the market is quiet, rather than dead.

Some of the better (in particular period) properties have been sold -- only having cut their asking prices though.

I would still say there is a 'glut' of properties for sale. I sometime look at rental and there seems to be oversupply there too.

[othello]

I was renting in Summertown last year (The Waterways). In 2003/04 I believe 2 bed flats in this areas were going for £295,000 but according to the latest LR figures two were soled at the end of 2005 for £245,000 and £250,000. A substantial drop!

[Oxford Howler]

Othello - is there any truth in the reports I've heard that when it rains over the Waterways, a foul black sludge oozes out of the ground?

[othello]

Oxford Howler, on Jan 3 2006, 06:44 PM, said:

Othello - is there any truth in the reports I've heard that when it rains over the Waterways, a foul black sludge oozes out of the ground?

Not that I noticed.

[peloton]

othello, on Jan 3 2006, 10:46 AM, said:

I was renting in Summertown last year (The Waterways). In 2003/04 I believe 2 bed flats in this areas were going for £295,000 but according to the latest LR figures two were soled at the end of 2005 for £245,000 and £250,000. A substantial drop!

Yet all those period properties in Central North Oxford continue to boom. These 2 houses sold in less than 2 weeks:

http://212.50.188.108/cgi-win/vebra.cgi?de...1/FRENC/10955/1
http://212.50.188.105/cgi-win/vebra.cgi?de...1/FRENC/10957/1

The latter one is 11% up on when it was last sold in July 2004.

I find the arguments for a HPC compelling, but it isn't happening here.

[othello]

peloton, on Jan 5 2006, 01:01 PM, said:

Yet all those period properties in Central North Oxford continue to boom. These 2 houses sold in less than 2 weeks:

http://212.50.188.108/cgi-win/vebra.cgi?de...1/FRENC/10955/1
http://212.50.188.105/cgi-win/vebra.cgi?de...1/FRENC/10957/1

The latter one is 11% up on when it was last sold in July 2004.

I find the arguments for a HPC compelling, but it isn't happening here.

Well I think I was saying the exact opposite. I have not looked at period properties yet, I was specifically focussing on the Waterways.

[Oxford Howler]

Peloton - it's buoyant indeed. Those houses on Frenchay Rd went for around 10% over asking - and they came on in traditionally dormant mid-December.

Two three-bed flats in a new house on Staverton Rd came on with Paul Murray yesterday. No outside space - 499K. Garden flats for 525K.

Gasp. Grind teeth. Growl.

There's a corps of determined buyers, mostly London STRs with one partner commuting, who circle like reef sharks for the Victorian houses in OX2. At a party the other day with five couples, all with kid/s - four couples were renting in Summertown, waiting to buy. And none of them had any plans to send their kids to the Dragon or one of the major public academies. They're going state or catholic and just have the perception that this is a good place to live.

I preferred the area five years ago, when it was a misty, crumbling outpost of eccentrics and academic disfunctionals. There are too many Mercs and 911s these days - the trappings of worthless souls sitting awkwardly next to the rusting Morris Minors on front garden driveways...

But hey - that's progress. If only there was a decent restaurant...