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County house prices rise slightly
4:13pm Wednesday 28th September 2011
House prices in Oxfordshire rose slightly last month, latest figures have revealed.
Statistics released by the Land Registry show the average price achieved for a home in the county increased to £236,081 — up from £235,867 in the previous month.
But year on year, the figure has dropped from the £240,682 seen in August 2010.
The small month on month increase bucks the national trend. In England and Wales the average price dropped 0.3 per cent from £162,771 in July this year to £162,347 in August.
In the south east region excluding London, average prices dropped from £208,706 in July to £207,189 in August.
August average house prices have see-sawed since the start of the credit crunch. They reached a peak of £247,411 in 2007 but sank 8.9 per cent to a trough of £220,250 in 2009 — only to rise 9.3 per cent the next year, and then fall back again by 1.9 per cent.
Gavin West of Oxford estate agents Kemp & Kemp said: “These figures are based on averages. They don’t reflect everyone’s experiences.
“They are also based on very low volumes of sales compared to a few years ago — but prices hold up because there is very little supply.
“Prices in some parts of Oxford are fairly robust because there are people with the 20 or 30 per cent deposit needed these days to buy a house.
“But in areas of low cost housing you would hear a very different story.”