The rise contributes to the longer-term trend, which has seen property prices in the area grow by 10.3 per cent over the last year – the highest in the South East.

The average Oxford house price in June was £469,953, Land Registry figures show – a 2.4 per cent increase on May.

Over the month, the picture was different to that across the South East, where prices increased one per cent and Oxford was above the 0.5 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Oxford rose by £44,000 – putting the area top among the South East’s 64 local authorities with price data for annual growth.

At the other end of the scale, properties in Epsom and Ewell lost 7.7 per cent of their value, giving an average price of £502,000.

First-time buyers in Oxford spent an average of £414,000 on their property – £38,000 more than a year ago, and £67,000 more than in June 2019.

By comparison, former owner-occupiers paid £523,000 on average in June – 26.4 per cent more than first-time buyers.

Owners of terraced houses saw the biggest rise in property prices in Oxford in June – they increased 2.8 per cent, to £468,564 on average. Over the last year, prices rose by 11.3 per cent.

Buyers paid 22.9 per cent more than the average price in the south east (£383,000) in June for a property in Oxford.

Across the south east, property prices are high compared to those across the UK, where the average cost is £288,000.

The most expensive properties in the south east were in Elmbridge – £652,000 on average, and 1.4 times the price as in Oxford.

Elmbridge properties cost 2.7 times the price as homes in Gosport (£243,000 average), at the other end of the scale.

The highest property prices across the UK were in (insert LA with highest house price).

The average South Oxfordshire house price in June was £504,109, Land Registry figures show – a 1.5 per cent increase on May.

In Cherwell, the average price in June was £363,747, a 3.5 per cent increase from May. 

But house prices dropped by 1.2 per cent in the Vale of White Horse in June, the figures show.

The average price in this district was £416,306. 

House prices also dropped slightly in West Oxfordshire with a 0.1 per cent decrease from May.

The average West Oxfordshire house price in June was £376,719.