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£100,000 premium for Oxford property

Tuesday, 10 July 2007 12:00 AM

There is a £100,000 premium for properties in Oxford, a new study reveals.

Email4property.co.uk reports Oxford is one of the most expensive property locations outside of London, with an average price of £307,692.

The reason for the city's high prices is its "dynamic local economy, well supported infrastructure and high level of earnings".

Additionally, Email4property notes in central areas over half of residents have a degree, which has led to above average earnings for the city and a very low level of unemployment.

David Bexon, Managing Director of email4property commented: "Steeped in academic tradition, it is unsurprising that the typical homebuyer in Oxford is of above average wealth, when viewed on a national level.

"Many university graduates choose to remain in the cities in which they have studied and Oxford students are no exception. With its close links to London and journey times of under an hour, Oxford has proved a popular town with commuters travelling into the capital, and this is reflected in its strong property prices."

Oxford's top ten priciest streets are all centrally located, with one property selling for as much as £3 million last year.

However, despite the already high prices Email4property expects demand to continue for Oxford property.

"The supply of homes in Oxford has increased dramatically on average each year since the turn of the century. As prices continue to force buyers out of London, Oxford has remained an attractive option for homebuyers looking to move out of the capital in addition to the many who opt to remain in the city after university," the website concluded.

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