Oxford is recognized for its world-class science and information assets. This city is home to some of the fastest growing companies, a stream of skilled and talented workers, and a strong economy. Oxfordshire’s economy is one of the strongest in the country, and Oxford is the city behind it all.
With the thriving economy, most property investors would like to buy and own property in Oxford. The University City has one of the most thriving property markets with increasing demand for student rentals.
When you think of buying property in Oxford, you should have leading property solicitors like AVRillo conveyancing solicitors for Oxford by your side. This is the only way to land the best deal and speed up the conveyancing process.
Oxford property market
Oxford is showing excellent economic success at the centre of a thriving economy, and the property market is part of this growth.
According to Zoopla, the current property prices in Oxford stand at £572,544 for the last 12 months. The average sold price for property in this city is £294,168, one of the highest in the UK. The price of different types of house is as follows:
– Detached: £952, 647
– Semi-detached: £584,239
– Terraced: £502,138
– Flats: £310,108
If you’re planning to buy property in the UK for the first time, you should budget well. The property prices in the UK are a bit high, but the ROI is promising. The University City has one of Oxfordshire’s highest rental and buy-to-let demands.
Why you should invest in the Oxford property market
1 – The East-West Rail Project
Oxford has one of the best transport links in the country. The East-West Rail Project is part of the Growing Bicester initiative, connecting Oxford and Cambridge and building links to Bedford and Bicester.
Once the project is completed, it will improve transport by providing direct rail services to shorten journeys in this region. This is one of the projects that are likely to change the image of Oxford and make it even more attractive to property investors in the future.
2 – The commuter population
Oxfordshire faces a challenge in meeting the increasing demand for commuters. Everybody wants to get to the city, increasing the commuter population. Oxford is experiencing a huge population boost, resulting in a commuter population of 57,000 people commuting to the city in search of employment and social amenities.
Students working as professionals prefer to live around Oxford. And they are looking for the area around Bicester with the lowest property prices. With more people commuting to Oxford city, you can invest in the property market here and meet the demand for homebuyers who want to settle in the city.
3 – The UK Golden Triangle
Oxford is strategically positioned within the UK’s Golden Triangle. This makes it one of the most preferred locations to live and work in the country. The direct access to the capital city, the wider South, and Heathrow, Oxford has become one of the top destinations for tenant demand, a destination of knowledge, and high tenant demand.
4 – Educational hotspot
Oxford is an educational hub in the UK and all over the world. Oxford University and other educational institutions employ a majority of the workforce in the UK. Other sectors such as technology, hospitality, tourism, and publishing also offer employment opportunities in the city.
Oxford University is one of the top universities in the world, with a student population of over 20,000 and a large graduate pool for employers in the UK and globally.
5 – Enterprising city
Oxford city has a lot to offer for those in business. It has one of the largest markets for working professionals and over 4,800 businesses employing most people living and commuting to the city. The leading employer for the city’s workforce is the educational institutions around the city.
The city is also a major tourism destination for the UK, with over 7 million visitors passing through the city. Oxford acts as a tourism gateway to Oxfordshire and the rest of the country. The local businesses in the UK make at least £780 million from tourism, making Oxford one of the top tourist destinations in the country.
Final Thoughts
Oxford is one of the best locations in the UK to invest in property. The city has one of the highest tenant demands in the country because of the increasing commuter and student population. When buying property in Oxford, you should seek help from a conveyancing solicitor to speed up the process.
