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House Price Crash Forum

capability

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  1. "All of us who contribute to this subforum are in the position to buy, yet none of us do." What does that mean? Sounds questionable to me. I have to say chaps I am a bit dubious about all this neo socialist 'brother' stuff, and also the 'we are all choosing to rent'. If that is the case why are we all participating in a house price forum. Bottom line is we are all interested in the merits of buying. Also most of the Oxford debate seems focused towards OX2 6xx.. why is that? Is it because that is where people in Oxford aspire to live and own? And as far as the discussion about Oxford average salaries. Well I have no confidence whatsoever in the statistics quoted as I have no idea how they are compiled. I for one pursue avoidance of surveys and census with a passion. I don't think there is any efficient way that these statistics can be gathered. I do know that the people I interact with seem to be an eclectic mix of successful professionals and medica & academics. Many earn their money from well outside Oxford. It just happens to be the best area to live within surrounding counties. Bottom line is OX2 6 xx is a significantly wealthy area. I think those waiting for a crash in North Oxford are delusional. Prices there are not going to be influenced by Government cuts. Sorry if you are waiting.. but it isn't likely to happen.
  2. It seems a little ironic that someone with the handle "i don't like scum lords" or whatever it is, complaining about the availability and quality of available rented accommodation. From the lable it doesn't appear the poster is encouragingly supportive of the private rented sector.. so too bad. Regarding income levels in Oxford, I suggest we reflect that Oxford is really several separate towns and FB correctly points out that there is the very wealthy area confined between the Isis and Cherwell in the North of the city, which frankly is well above any national norm. The rest of the city is probably just about normal for the south east (ex London).
  3. So as far as I can see in North Oxford we have a two tier market. The good stuff is either not on the market, withdrawn from the market or selling quickly at over 2007 prices. The not so good quality stuff is overpriced, sticking and going nowhere. Those waiting for a crash of good stuff in the spring will be very disappointed. My guess is from March 1st we shall see North Oxford coming to life again.. and finding a quality property will be tough. But we shall have an increasingly two track market. The agents don't seem to discriminate on quality.
  4. Well Jericho has alot going for it. Pubs, cafes and lots of delis...so so many delis... Great cinema, international lively bunch of people and good schools. Drawback is it is very expensive per square foot. I would say the best value for money is not the small terraces in Jericho itself but instead the 3 bedroom houses on the Waterside, they offer a garden and parking.,which is rare in Jericho. Also good access to Port Meadow. Actually it is for all these reasons that we like living in North Oxford. There are lots of people on this site ready to run down the quality of life living in Oxford.. but you know what, I would struggle to think of anywhere better in the UK. outside, well lots. Actually for all those reasons I don't see prices for the good property falling much from here. Good luck in your search.
  5. There certainly is something abnormal afoot. Actually I thing it is starting to become clear. There were probably a large number of wealthy individuals who have been renting in expectation of the crash. It would appear now in OX2 the prices will not 'crash' .. and the spectators are returning to play the game. There is a house on Chalfont Road £995k B & B which has sold in a week.. a price which for the size is matching the peak. I three storey four bed in Stone Meadow has just gone under offer.. asking price was £640k... this is setting a new level for these Berkeley homes houses.. and Stone Meadow is not even the best of the locations compared to rest of Waterways.. We have bottomed and at the most negative we shall get stagnation next year. Falling Buzzard.. I think the time to swoop was in February 2009..
  6. I expected that there would be some exit form the BTLrs. If there is it doesn't seem to be on a scale large enough to deflate prices. the conundrum of the shortage in houses in OX2 is probably at play. If anything the trend of conversion of student houses to family residences as with the Frenchay road property indicates further gentrification of OX2 (if that was possible)..
  7. It appears to me that all the 'best in class properties' are selling quickly in North Oxford. I track a broad range of properties. The ones that are not moving are clearly overpriced or have some fault. I would say that in general the quality properties are selling at maybe 10% of peak. The really good stuff actually seems to be not much off peak. The good period stuff sells in a couple of weeks. The modern stuff is selling well too. Look at the two town houses under offer at Elizebeth Jennings Way at £775 - 795k.. or the one on William Lucy way at £775k. The buying best opportunity was 1st qtr this year, The bell doesn't ring when the market hits the bottom... unless you are particularly gifted or just lucky, calling the exact bottom is tricky. Clearly prices are horribly expensive in North Oxford.. but consider the catchment area. This is the nicest area for anyone living within a wide region. It attracts senior executives who work as far as Vodafone at Newbury to people working in the West of London to Milton Keynes.. I don't think we shall see nominal prices falling lower than they were in qtr 1 this year. That is just the way it is. We could stagnation.. I was eagerly awaiting a crash.. but I think in North Ox we just have to accept that it was a minor fall with a recovery now happening.. Reality.
  8. Frustrated Buyer.... The answer to your question may be just as simple as Oxford is a lot better place to live than Cambridge!! Cambridge suffers from the unfortunate circumstance of being 'east of london' .. and east of London just isn't as fun.. Also the properties you are showing are the same price .. but difficult to compare... also in Oxford it is North Oxford which is more expensive than central Oxford.. well actually, there isn't really any property for sale in central oxford.. Welcome to the dreaming spires.
  9. It does seem that the life is rapidly coming back to N Oxford... I was considering offering hoping to get a bargain.. but it just isn't happening.. already an asking price offer.. and others interested..Alot seems to be driven by the old Phil & Jims catchment issue plus very little supply.. Frustrating. If you need a family house under £500k what is available? I would be interested experienced Oxford HPCs opinion on where this market is going next... is this increase in demand going to gain momentum or fizzle out in the Autumn? Could this heating of the market continue into Spring next year?
  10. So in your view have we seen a leveling out or did you just find the property that hit the hot button and overwhelmed economic rationality?
  11. So did you just buy?
  12. It does look as if November last year may have been the buying opportunity in N Oxford.. I am looking at houses in the £600 to 700k bracket and lots of the good stuff seems to be going under offer... What do we think the chances are of declines from now in N Oxford.. seems like not a lot..
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