Oxford ranked hardest place in England to sell a home

Summarised from 2 outlets · Updated 29 Oct, 16:35 · Archive

Oxford has been ranked the hardest place to sell a home in England and Wales, according to Good Move's property index.

Oxford has been ranked the toughest place to sell a home in England and Wales out of 48 towns and cities surveyed by Good Move. The study analysed data from the Land Registry, the Office for National Statistics and Rightmove to identify the markets where selling is most difficult.

Affordability emerges as the primary challenge. The average house price in Oxford stands at £467,000 against median annual earnings of £36,517, producing a house-price-to-earnings ratio of 12.79. House prices in the city fell by 0.90 per cent over the past year, from £471,000 to £467,000. Sales volumes are also depressed: Oxford recorded just 195 property sales in the past year, whereas Manchester recorded 1,252. The average time to find a buyer in Oxford was 65 days.

Nima Ghasri, director of Good Move, said that high house prices relative to local earnings place significant pressure on the property market. She noted that 'affordability is a significant challenge for buyers' and stressed the importance for sellers to 'understand local market conditions and price their property realistically'. Cambridge and Brighton joined Oxford as the hardest places to sell a house, while Preston, Liverpool, Newcastle upon Tyne, Manchester and Sunderland ranked as the easiest.

Oxford ranked hardest place in England to sell a home — Image: Oxford Mail

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How it is being reported

Oxford named toughest place to sell a home in the countryOxford has been ranked as the toughest place to sell a home, and one of the most expensive.Oxford Mail · 29 Oct, 16:00
Oxford named toughest place to sell a home in the countryOxford has been ranked as the toughest place to sell a home, and one of the most expensive.Oxfordshire Guardian · 29 Oct, 16:00

In this story: Oxford · Good Move · Cambridge · Brighton · Manchester · Preston · Liverpool · Newcastle upon Tyne

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