Jump to content
House Price Crash Forum
Sign in to follow this  
housespider

Will Oxfordshire Ever Be Affected By The Hpc?

Recommended Posts

Hello

I'm just seeking some re-assurance from you all that prices in Oxfordshire will, at some point, be affected by price drops. Been monitoring for many months now and the area just seems to be immune to the financial problems affecting many other places.

When, if ever, do you predict that I should start seeing some changes, pref in a downward direction.

Everything, with the very rare odd exception is just so hediously expensive that I have at times been lelft feeling positively nauseous by it all.

Share this post


Link to post
Share on other sites
Hello

I'm just seeking some re-assurance from you all that prices in Oxfordshire will, at some point, be affected by price drops. Been monitoring for many months now and the area just seems to be immune to the financial problems affecting many other places.

When, if ever, do you predict that I should start seeing some changes, pref in a downward direction.

Everything, with the very rare odd exception is just so hediously expensive that I have at times been lelft feeling positively nauseous by it all.

The rubbish bits already are, but some of the more prime areas are 'robust' compared to other parts of the country (up north for example). There is plenty of money in that neck of the woods, so it may take some time for drops to show up. Hang in there.

Share this post


Link to post
Share on other sites
The rubbish bits already are, but some of the more prime areas are 'robust' compared to other parts of the country (up north for example). There is plenty of money in that neck of the woods, so it may take some time for drops to show up. Hang in there.

where are the rubbish bits can you name and shame them please :) , I don't know the area that well having only moved to Oxfordshire a few months ago and which bits do you think may take a little longer?

Share this post


Link to post
Share on other sites
where are the rubbish bits can you name and shame them please :) , I don't know the area that well having only moved to Oxfordshire a few months ago and which bits do you think may take a little longer?

I've seen significant falls in the West Oxfordshire villages since the start of 2008. Prior to that there was a stand-off.

Share this post


Link to post
Share on other sites
I've seen significant falls in the West Oxfordshire villages since the start of 2008. Prior to that there was a stand-off.

Thanks for that - I live in South East Oxfordshire so knowing my luck it will be the last area to 'go'......... I know what you mean when you say that there's alot of money in this county. We are renting at the mo and I have observed that every other person seems to drive in a 4x4, wear jodphurs and riding boots and shop in waitrose.

Share this post


Link to post
Share on other sites

Unfortunately for you, the south-east of the county is probably the most robust in terms of prices, I would guess. It's one of the few areas within the London commuter belt that's still retained a fairly unspoilt rural feel, so it's always going to have a certain extra appeal, plus there's always been a lot of old money in the area, so a good price to live if you aspire to be one of the 'quality'. I'd be interested to see any statistics on how the area did in the last crash.

Share this post


Link to post
Share on other sites

Just had a look on property snake for oxfordshire:

http://www.propertysnake.co.uk/site/locati...dated_date_desc

there's 200 price drops in the last week for you.

Nowhere is immune from the great HPC. If it shot up, it will shoot down.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

I just sold my house in Didcot, having decided to STR. It was a 2 bed end of terrace on the Ladygrove estate, which as you may know is popular with commuters for Reading and London. Unfortunately for me I put it on the market with the wrong EA, and it sat at its £190k asking price for 2 months. I switched agents in October '07 and within 2 weeks had an offer for £180k which I accepted. I had it on the market for £186,500 by that point. Looking at similar properties on rightmove now I note two main points:

1) there are vastly more of these properties for sale

2) the asking prices are around the £180k region, so I would expect them to fetch somewhere just north of £170k.

I conclude therefore that prices are falling, and with increasing volumes will continue to fall. I'm glad to be out of it!

Share this post


Link to post
Share on other sites
I just sold my house in Didcot, having decided to STR. It was a 2 bed end of terrace on the Ladygrove estate, which as you may know is popular with commuters for Reading and London. Unfortunately for me I put it on the market with the wrong EA, and it sat at its £190k asking price for 2 months. I switched agents in October '07 and within 2 weeks had an offer for £180k which I accepted. I had it on the market for £186,500 by that point. Looking at similar properties on rightmove now I note two main points:

1) there are vastly more of these properties for sale

2) the asking prices are around the £180k region, so I would expect them to fetch somewhere just north of £170k.

I conclude therefore that prices are falling, and with increasing volumes will continue to fall. I'm glad to be out of it!

Good for you - I don't blame you. Ladygrove estate, I don't know it but I have certainly heard of it as it seems that over 90% of all properties that come onto the market within OX11 are all on that estate. We are renting, after STR, in OX12 and the few properties that do come on the market show no signs (yet) of decreased asking prices. If thisngs don't change within the next 6 months we may have to re-think our decision to move here.

Share this post


Link to post
Share on other sites
I've seen significant falls in the West Oxfordshire villages since the start of 2008. Prior to that there was a stand-off.

Beware the West Oxfordshire villages that flooded last summer (e.g. the Wychwoods). The reason the houses for sale look so well renovated is that the insurance companies have just finished refurbishing them after they flooded, some to a height of ten feet. The prices do not reflect the risk of future flooding - virtually nothing has been done to prevent a recurrence.

My observation of prices in West Oxfordshire is that period properties are still selling well and prices holding up. The developers seem unable to shift new properties at all. Although they will use cashbacks and other incentives to artificially inflate recorded sale prices, my guess is that you could drive a hard bargain at any of the larger developments.

Share this post


Link to post
Share on other sites
Beware the West Oxfordshire villages that flooded last summer (e.g. the Wychwoods). The reason the houses for sale look so well renovated is that the insurance companies have just finished refurbishing them after they flooded, some to a height of ten feet. The prices do not reflect the risk of future flooding - virtually nothing has been done to prevent a recurrence.

Ditto for Abingdon, and some bits of Oxford (Botley, Osney, Abingdon Road etc...) which were also flooded really badly.

Lots of these price reductions are due to the flooding, and therefore further risk of flooding, and perhaps not being able to get insurance.

Anyone who's been flooded once would move to a property up a hill!

Share this post


Link to post
Share on other sites

A nice little asking price reduction up the road from me.

Originally it was on for something close to a million (can't remember exact amount, maybe £950k).

Today available for £875k

Its starting. Even in wondrous and beautiful South Oxon. There are many people who kept on more houses than they need because prices kept going up. Now I think they will want to dump their surplus residences.

Share this post


Link to post
Share on other sites
Its starting. Even in wondrous and beautiful South Oxon. There are many people who kept on more houses than they need because prices kept going up. Now I think they will want to dump their surplus residences.

Here's another in West Oxfordshire

Feb 07 485K : http://www.rightmove.co.uk/property/14415317

62344_3044A_BH456_IMG_00_t.jpg

Now 435K: http://www.rightmove.co.uk/viewdetails-205...=1&tr_t=buy

Bargain !

post-12943-1207920526_thumb.jpg

Share this post


Link to post
Share on other sites
Here's another in West Oxfordshire

Feb 07 485K : http://www.rightmove.co.uk/property/14415317

62344_3044A_BH456_IMG_00_t.jpg

Now 435K: http://www.rightmove.co.uk/viewdetails-205...=1&tr_t=buy

Bargain !

Bargain?!?! It's still £435k for just 3 bedrooms! And it seems to have been sold too! Is it a really nice area or something?

In East Oxford, prices seem to be going up, not down!! There are now new-build 2 bed flats with asking prices of nearly £300k!!! And most only have 1 parking space!! I presume the visitor parking would be used up by residents.

Why do they build newbuilds with only 1 parking space, in streets that have so little parking? Where do visitors park?

Share this post


Link to post
Share on other sites

There is an awful lot of aspirational pricing in Oxfordshire by retirees with no mortgage on very large family sized houses. The agents entice them to put their house on the market at around this time of year because of people moving out of London for schools - up until last year they tended to get what ever price they were asking. They will only sell if they get the asking price (or over) because they want to fund their retirement, buy a house in France, give their kids some cash, etc, etc. etc. These types of sellers have no intention of accepting offers and are a waste of time.

Lower down the scale in new build developments younger families have mortgages and jobs to move to in other parts of the country or other parts of the world as well as divorces and all the other things that means people HAVE to move house. These people will have to accept offers.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.