Experts believe that next year there will be another push towards the suburbs, due to pent-up demand from families wanting to buy bigger homes.
Estate company Savills is forecasting a boom in mortgaged homeowners moving house as well.
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“We predict that second and third steppers are going to increase by 26 per cent, or 70,000 per year, over the next five years,” said Lucian Cook of Savills.
“The suburbs are likely to be a core focus for these buyers.”
“This will be driven by stabilised political conditions following the election and the establishment of a new government, and bolstered by expectations of slow but steadily falling interest rates,” adds Polly Ogden Duffy of estate agency John D Wood.
North Central, Oxford
Average house price – £1,341,972
Average household income – £115,098
The Telegraph said: “This suburb runs from where the University Parks meet Banbury Road, up towards Summertown.
“The very affluent area includes the enclave of Park Town and is centred around the private Dragon School – the surrounding roads are the most desirable in Oxford, including Charlbury Road, Norham Gardens and Crick Road.”
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Property prices decline as you head north, but the average in Summertown is still £860,581, according to Rightmove.
“It’s not uncommon for families to have their main house in Park Town and a country home in the Cotswolds, or even have a small base in Oxford for the children during the week and their primary residence in the countryside – anything to avoid the commute, as traffic is still one of the biggest issues for the city,” says Harry Gladwin of The Buying Solution.
Locals love: Estelle Manor, a private members’ getaway that opened last year, which is just 15 minutes’ away.