How do you sell your home with so many competing houses for sale in Oxford?
If you’re about to embark on the house selling journey in Oxford, you’ll need to ready yourself for a battle with hundreds of other houses for sale in Oxford. This guide to the local property market should get you started.
Set a realistic and achievable asking price when selling a house in Oxford
Despite a general recovery in the market, large parts of the UK are still in the grips of relative stagnation. However, house price growth in Oxford has been breaking records, and most commentators believe this will continue for at least the next five years. A report from the Oxford Mail in April 2013 revealed that Oxford house prices had risen by more than four times the average rate for the south east of England. According to Rightmove, the average price of a UK home in April 2013 was £244,000, but the cost of the average residential property in Oxford at that time was an astonishing £355,000. National property values had risen by 1.1 percent during the 2012, yet they had increased by 4.6 percent in Oxford. The Daily Mail also recently reported that some areas of Oxford have an average property price of more than £1million. Although these figures are very impressive, there are still several reasons why setting a competitive asking price is a necessity.
A lot of the house price growth in Oxford has been fuelled by a housing shortage, overspill from the over-heating London property market and low interest rates. Meanwhile loans are still in relatively short supply, and buyers are more wary than ever about getting value and securing future potential for value growth. A competitive asking price is a must if you need to sell your house quick in Oxford, as you’ll need to garner a lot of interest in your home if you’re going to maximise its value.
Your estate agent – if you’ve hired one – will research local sold house prices and set an appropriate asking price based on the most recent information available. However, you can do this research yourself by using the property transaction search tool on the Rightmove website. There are also sold house prices available on the Zoopla website, and you will find official figures on national house sales via The Land Registry web portal.
Choose the best person to take charge of marketing your house
While increasing house prices will work in your favour as a homeowner, it’s important not to lose sight of the fact that there are still some tricky hurdles in your way if you need to sell your house quickly in Oxford. House price growth is great news for owners, but in respect of houses for sale in Oxford, it means a growing number of local people are being priced out of the market. A recent report on The Guardian website revealed that the average home in the city during March 2014 cost £340,000, and that was eleven times more than the average salary. Other issues include the stubborn reticence of banks to approve mortgage applications and the wariness of buyers where value for money is concerned. Although property values are soaring, the need for a thorough marketing strategy has never been greater.
Not only do you need a comprehensive advertising and marketing strategy, you need the right person in place to execute it. If you’re determined to sell on the open market, this person will probably be an estate agent, choose one with a concentration of houses for sale in Oxford. A good agent will have an intrinsic knowledge of the local market. Agents bring negotiating skills, experience and a network of contacts to the table, which can add more than enough value to a property to cover the cost of their commission. If you’re determined to save money and sell your house privately, however, there is absolutely nothing stopping you from doing so. But you will need the time and knowledge required to sell a house quickly, otherwise you could be left counting the cost of lost sale value.
If you’re facing a situation where waiting around for a buyer to be found on the open market is simply not an option, there is another way. We buy any house and in any condition, as we represent investors who are cash-ready to proceed with a purchase today. We’ll take care of all the tasks associated with house buying in the UK, and you won’t need to deal with the costly and time-consuming issues of marketing, property viewings and price negotiations.
Choosing the best time of year for selling houses in Oxford
Too many homeowners spend time and energy worrying about what the best and most profitable time of year is for house selling in Oxford. There is next to no evidence to suggest there is a direct correlation between a home’s value and the time of year at which it is put up for sale.
There used to be a general consensus amongst property experts that peaks in demand for houses would occur during the weeks shortly after New Year and the summer holidays, but that seems to have changed since the housing market crisis of 2008. According to data published on the Home website, July and August were the busiest months during the year to July 2014 for houses for sale in Oxford, which is a little unusual given that so many people are preoccupied with holidays and leisure at that time of year.
If you want to make the time of year count when selling a house in Oxford, you should alter your marketing and home staging strategies according to the changing seasons. Appealing to the seasonal priorities of the average buyer will broaden the appeal of your home, and help you to sell it more quickly.
What issues are currently affecting house prices in Oxford?
Local housing markets are subject to a range of issues that have the potential to affect house prices in a specific area. Before you make any house selling decisions, it is important that you are aware of these issues and how they might affect the value of your own home. You shouldn’t rely on headline figures when it comes to valuing your home, as Oxford consists of several property markets all working in tandem. For instance, houses in areas such as South Park, Headington and Holloway are rising in value at an astonishing rate, whereas homes in the likes of Blackbird Leys, Barton and Rose Hill are experiencing more modest value growth.
There are some generic factors at play that positively affect house prices in all UK towns and cities, as well as a range of issues that can have a negative impact on property values. If your home is located within the catchment area of a top school, for instance, you can be fairly certain that some parents will be prepared to pay a little extra for it. The same applies if your home is located close to good transport links or in an area with a lower-than-average crime rate.
You should also watch out for the various issues specific to Oxford that might affect the value of your home in the future. For example, Oxford is in line for a new multi-million pound shopping development, and a new state-of-the-art swimming complex is about to open its doors in the city. There is also a huge house building initiative on the way for Oxford.
Oxford is a famous and visually stunning city located in the ancient English county of Oxfordshire. Its modest population of just 150,000 makes it smaller than many of the UK’s larger towns, but its reputation for education and architecture is world renowned. The city’s skyline is dominated by buildings which are a part of the famous university and its sprawling colleges and campuses account for the majority of the city’s ancient architecture. Oxford is also home, though, to several very successful commercial sectors, including the manufacturing, publishing and car making industries.
Oxford has a centuries-old affiliation with Royalty and English power, and has always been an important part of the national economy. The famous selection of Morris cars was manufactured in the city for decades, and the iconic Mini is still made in the district of Cowley. Oxford also has a proud tradition of publishing, and Wiley Blackwell and the Oxford University Press still have their headquarters in the city. Oxford is also home to some of the most revered research and development organisations in the world, which innovate across a range of disciplines, including medicine, engineering and IT.
Oxford’s beautiful architecture and reputation for education makes it hugely popular amongst affluent house buyers in the UK. House price growth has been exceptionally strong for several years now – at a time when the housing market in the UK has struggled. If you were lucky enough to have bought your house just a few years ago, the chances are it has appreciated in value considerably. However, if you need to sell your home quickly in Oxford, there are still some considerable challenges to overcome. We can help you to bypass the market altogether by buying your home directly from you – at a price based on current market values.
Oxford is dominated by its world class university, and many of the city’s most spectacular tourist attractions and historic sites are associated with one or other of the university’s prestigious colleges. However, if you choose to visit just one of these colleges, it should probably be Christ Church, as it is the city’s oldest, and has featured in films such as Harry Potter! If you like to visit museums, you’ll be spoilt for choice in Oxford. The University & Pitt Rivers Museums are located inside a stunning example of Gothic Victorian architecture, and the Pitt Rivers in particularly fun, with its vast collection of curios and oddments from around the world. The Ashmolean Museum is the world’s first university museum– containing artefacts and archaeological finds from all over the earth.
If you want to explore one of the world’s most prestigious and well equipped libraries, you should pay a visit to the Bodleian Library. A library has been on this site dating back to the fourteenth century. Other stunning attractions in this great city include the millennium-old Oxford Castle and the Oxford University Museum of Natural History. No visit to Oxford should pass by without a visit to Radcliffe Camera – one of Britain’s most photographed buildings.
Oxford house prices have risen dramatically in recent years, and there are signs that this incredible rate of growth may continue for some time to come.