Oxford

[ReJoyce]

Oxford bear food:

http://www.bloomberg.com/news/2010-10-18/oxford-cambridge-house-prices-to-suffer-the-most-from-state-spending-cuts.html

Hang on, the guy from Chancellors said that the Universities and hospitals will support the market ....

regards

J

[BuyInOxford]

Oxford bear food:

http://www.bloomberg.com/news/2010-10-18/oxford-cambridge-house-prices-to-suffer-the-most-from-state-spending-cuts.html

Isnt 46% in the public sector a fairly average amount in Tony and Gordons wonder economy?

Edit according to this link Oxford is pretty much the average. (note it doesnt include the Irish Scots or Welsh where public sector employment is highest.)

http://www.bbc.co.uk/news/business-11233799

Edited October 18, 2010 by BuyInOxford

[shavedchimp]

6 weeks waiting and nothing in the Oxford forum

What the hell's wrong with us? Have we laid down and died?

At the very least we should catalogue a stagnant market. I'm waiting for the cracks to appear - that's where the light gets in.

Have you seen any?

shavedchimp

[easy2012]

6 weeks waiting and nothing in the Oxford forum

What the hell's wrong with us? Have we laid down and died?

At the very least we should catalogue a stagnant market. I'm waiting for the cracks to appear - that's where the light gets in.

Have you seen any?

shavedchimp

Why don't YOU do some reporting ?

In general, Oxford within ring road is trading at around 2007 level (+/- 5%), so has fallen in real and some cases, nominal terms.

Correctly priced FTB/midrange properties properties will be gone in a week or two and even attracts bidding wars (seen one recently, several FTB, bid well

over 250k threshold). 500k+ not really moving.

But just to feed the bear, the following just being reduced from 700k to 675k after many months of resisting.

http://www.rightmove.co.uk/property-for-sale/property-15885000.html?

Edited December 3, 2010 by easybetman

[ReJoyce]

All very quiet (Villages East of Oxford).

Few new instructions.

What there is will sell very fast if remotely "sensibly" priced and languish if priced at 2007+.

Several properties removed recently to be remarketed in the New Year.

regards

J

[fallingbuzzard]

I noticed that the repossessions had increased, thats all. Oh, and that I am being called again.

Why don't YOU do some reporting ?

In general, Oxford within ring road is trading at around 2007 level (+/- 5%), so has fallen in real and some cases, nominal terms.

Correctly priced FTB/midrange properties properties will be gone in a week or two and even attracts bidding wars (seen one recently, several FTB, bid well

over 250k threshold). 500k+ not really moving.

But just to feed the bear, the following just being reduced from 700k to 675k after many months of resisting.

http://www.rightmove.co.uk/property-for-sale/property-15885000.html?

[capability]

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.

[Timm]

All very quiet (Villages East of Oxford).

Few new instructions.

What there is will sell very fast if remotely "sensibly" priced and languish if priced at 2007+.

Several properties removed recently to be remarketed in the New Year.

regards

J

Oi, get off my patch!

Although we were tempted by one in Tackley recently...

[fallingbuzzard]

Agents do discriminate on quality but from their perspective, which is ability to sell. The ones that can sell are marketed heavily and the rest languish. Its always been like this.

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.

[shavedchimp]

Well, that's it then. We might as well pack and go home then:

http://www.oxfordtimes.co.uk/homes/featured_property/8774601.Property_prices_in_city_bucking_national_trend/

Or am I too defeatist?

[fallingbuzzard]

You're just not bullshittish enough but then they don't have to pay the 25 year mortgage

Well, that's it then. We might as well pack and go home then:

http://www.oxfordtimes.co.uk/homes/featured_property/8774601.Property_prices_in_city_bucking_national_trend/

Or am I too defeatist?

[thehowler]

It's Sitzkrieg here in Oxford town, with the prices holding steady,

But Fallingbuzzard won't be drawn even though he's got the reddies,

With a shine in his eye, Capability cries, "the market's about to bounce",

"Like it or not, lads, face the facts, soon you'll have to pounce."

Shavedchimp he dithers, while the agents slither, and others start to boast,

"It's different here, it's the schools you see and your savings accounts are toast."

Then the Howler steps in, side-stepping the din, says "boys, keep those wallets shut tight,"

"If a house costs a bar, where you can't park your car, this bounce is a crock of

[fallingbuzzard]

Not quite true, I have 2 offers out, the sellers won't be drawn but I'm fairly confident that the agents are not going to promote the properties. They've got quite a lot to peddle

It's Sitzkrieg here in Oxford town, with the prices holding steady,

But Fallingbuzzard won't be drawn even though he's got the reddies,

With a shine in his eye, Capability cries, "the market's about to bounce",

"Like it or not, lads, face the facts, soon you'll have to pounce."

Shavedchimp he dithers, while the agents slither, and others start to boast,

"It's different here, it's the schools you see and your savings accounts are toast."

Then the Howler steps in, side-stepping the din, says "boys, keep those wallets shut tight,"

"If a house costs a bar, where you can't park your car, this bounce is a crock of

[easy2012]

http://www.estateagenttoday.co.uk/news_features/Oxford-City-Council-becomes-first-to-license-all-HMOs

Oxford City Council becomes first to license all HMOs

Wednesday 26th January 2011

Oxford Council has become the first local authority to require every House in Multiple Occupation to be licensed.

The authority already licenses, as is mandatory, HMOs that are three storeys or more and which have five or more tenants, and currently over 600 HMO licences have been issued.

On Monday, it introduced additional licensing, which means every HMO in the city will need to obtain a licence.

From this week, all three or more storey HMOs in Oxford will require a licence, plus all two-storey HMOs that contain five or more tenants.

All other types of HMOs will require a licence from January next year. This will include properties with three or four tenants sharing, as well as properties with self-contained flats.

It is estimated that altogether 4,000 properties will be licensed. Landlords have protested that while they will have to pay for licences and in some cases for extra facilities such as more bathrooms, they will have to pass the costs along to their tenants.

But Joe McManners, board member for housing, said: “I am delighted that we have finally got the powers to improve every HMO in Oxford.

“They have long been recognised as being a particular problem in the city, providing the worst homes and in many cases being poorly managed.

“The private rented sector is hugely important to the residents of Oxford, not just in terms of providing much needed accommodation, but also with the impact that it can have on local communities, and licensing every HMO will help drive up standards for everyone.”

Oxford has the 14th highest number of HMOs in England and Wales. One in five residents in the city lives in an HMO.

The council first applied for permission to introduce additional licensing back in 2008. Last July, it resolved to introduce the scheme and was due to launch it in October.

However, after protests from landlords and agents, the scheme was delayed to avoid litigation.

Landlords pointed out that it would have been illegal to run an HMO in Oxford without a licence, but that the council would not have been able to cope with the administrative burden of actually issuing licences.

[I-hate-scumlords]

Ive been looking for places in Oxford to rent recently and have had a good drive round the place .... but to me it seems as if there has been a minimal amount of new build properties constructed in the last 10 years or so. Is this the case? as presumably a fairly affluent town such as Oxford has many people looking to move there.

[fallingbuzzard]

Well, there's quite a bit of new property in less attractive locations but its BTL grade construction and type. You presume wrong on the affluence. Oxford isn't that affluent, there is a small clique of ultrarich but outside that the income levels drop quickly and become modest against comparative locations

Ive been looking for places in Oxford to rent recently and have had a good drive round the place .... but to me it seems as if there has been a minimal amount of new build properties constructed in the last 10 years or so. Is this the case? as presumably a fairly affluent town such as Oxford has many people looking to move there.

[ReJoyce]

Well, there's quite a bit of new property in less attractive locations but its BTL grade construction and type. You presume wrong on the affluence. Oxford isn't that affluent, there is a small clique of ultrarich but outside that the income levels drop quickly and become modest against comparative locations

Have you any figures to back that up?

With the large numbers of Health pros, academics (Prof salaries are pretty good nowadays), professionals serving the wider county and techy firms the average has to be tilted a bit I would have thought.

regards

J

[fallingbuzzard]

Yes, I have some figures. Average salary of working residents living in Oxford is £26k, marginally above national average. The skew of the distribution creates a pocket of wealth surrounded by poor with more than 50% of Oxford's working residents below £20k. Compare that against other locations and you realise that Oxford, net of the ultrarich group, is quite poor. Frankly you can see this by walkinmg around and looking at the general population.

Have you any figures to back that up?

With the large numbers of Health pros, academics (Prof salaries are pretty good nowadays), professionals serving the wider county and techy firms the average has to be tilted a bit I would have thought.

regards

J

Edited February 7, 2011 by fallingbuzzard

[capability]

Yes, I have some figures. Average salary of working residents living in Oxford is £26k, marginally above national average. The skew of the distribution creates a pocket of wealth surrounded by poor with more than 50% of Oxford's working residents below £20k. Compare that against other locations and you realise that Oxford, net of the ultrarich group, is quite poor. Frankly you can see this by walkinmg around and looking at the general population.

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).

[fallingbuzzard]

London is £34k and the south east is just shy of £30k, Oxford is £26k, so definitely not normal.

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).

[I-hate-scumlords]

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.

When i first arrived back on these shores last month i had nothing against them ... I wrote the name after being refused rental accommodation by 5 out of 5 scumlords due to them not wanting a 9 month old girl staying in their not overly special apartments ... wouldnt society be just wonderful if there was more like them!

And much of the property ive looked at is not well looked after, not that ive complained or said anything about it, i wrote that i hadnt noticed too much new build property. I was vaguely inferring maybe a lack of newbuild property could be one reason prices are seemingly not falling. But ive been corrected.

Im not too sure what support you want me to give to the government funded private rental sector .... surely best part of a grand a month for a 50m2 apartment should be enough encouragement. But youre right the situation is too bad, so im looking to rent elsewhere and i'll more then likely be leaving the country in 6 months.

PS Is this a sought after area to buy ... Cumnor Ridge?

http://www.persimmonhomes.com/cumnor-ridge/3-bed-mid-terrace-house-168623

Edited February 8, 2011 by I-hate-scumlords

[easy2012]

London is £34k and the south east is just shy of £30k, Oxford is £26k, so definitely not normal.

Gross weekly pay (£) by workplace, 2007

Oxford / South East Great Britain

Full-time workers

513.9 / /480.7 / 458.6

Male full-time workers

584.2 / 535.0 / 500.0

Female full-time workers

488.0 / 408.0 / 394.8

So, oxford city council area wages is higher than SE average at £26k (FB - SE £30?)

http://www.oxford.gov.uk/Direct/2_Oxford%20Economic%20Profile%202009.pdf

[Bobajobbob]

I grew up in Oxford and went to the Dragon School. It was and I imagine still is a fabulous school and I can understand why people move to Oxford to send their children there and to the many other good schools from 12-18. What I struggle to understand are the comments on bankers flocking to Oxford.

I work in London in finance and considered Oxford as destination to return to as my children were growing up and I no longer wished to remain in central London. However as a destination for bankers and those in the financial sector working in the city of London or Canary Wharf it simply does not make sense unless you have incredibly flexible working hours or are lucky enough to be based in a more centrally located office in London. I can imagine the odd hedgie getting up a 5am and driving their Aston to their Mayfair office which could be done in 1.25-1.5 hours I guess, but the journey home could take 2.5 hours+ if you leave in rush hour. For anyone taking the train and working in the City of London or Canary wharf they are looking at least 2 hrs door to door each way, before taking into account any disruption to the trains or tube. It just doesn't work if you want to have any quality of life at all.

I suppose a weekly commute would work but again that kind of defeats the object.

[thehowler]

"What I struggle to understand are the comments on bankers flocking to Oxford"

As you surmise, it's probably correct to say there are no bankers flocking to Oxford. The glib London bonus BS is one of the straws clutched at by agents and moron home owners in OX2 to make sense of the absurd pricing.

OX2 housing supply is strangled, with only a few homes in each major price group coming on the market each month. They are bought by:

- people selling in London and moving here.

- people with money moving here from outside Albion

- people who have been waiting for decades for a house on a certain street and come into an inheritance

- people borrowing money off their colleges

- people who come into an estate and think it will be a welcoming place to die

- people with mad development ideas

And there are only a few of them doing this each month, but enough to keep the market ticking over.

There are no bankers and I haven't met anyone buying a house in OX2 on a mortgage for years. Equally, most people quit after three or four years, when they realize there's not a lot of work here and the services/restaurants/bars are pretty poor compared to London.

[fallingbuzzard]

I don't recognise your figures. They're wrong but it amazes me that there are still people deluded enough to think that average salaries of Oxford residents are high

*Added*

Ok, so here is my source data:

These are latest figures, all workers.

Oxford £494 £25.6k

UK £487 £25.4k

London £634 £33k

South East £540 £28k

Table 8.1a

Your figures look like the earnings of people working in Oxford rather than the income figures of people who live in Oxford.

Gross weekly pay (£) by workplace, 2007

Oxford / South East Great Britain

Full-time workers

513.9 / /480.7 / 458.6

Male full-time workers

584.2 / 535.0 / 500.0

Female full-time workers

488.0 / 408.0 / 394.8

So, oxford city council area wages is higher than SE average at £26k (FB - SE £30?)

http://www.oxford.gov.uk/Direct/2_Oxford%20Economic%20Profile%202009.pdf

Edited February 8, 2011 by fallingbuzzard