House prices hit the buffers (From The Oxford Times)

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House prices hit the buffers

5:04pm Tuesday 29th June 2010

House prices in Oxfordshire have virtually stopped rising after 11 months of consecutive growth.

Latest official figures for May from the Government’s Land Registry show the average price of a property in the county is £237,584, just £41 more than the previous month.

But the overall figure the year rose slightly to 10.8 per cent, meaning the average price of a home has gone up by £23,153 since May 2009.

Graham MacDonald, co-director of estate agents Kemp & Kemp based in Summertown, said: “In the last six weeks the market has definitely slowed.

“People were worried about the General Election and then the Budget but there has been nothing too frightening.

“In the current economic climate people are slightly nervous and mortgages are still difficult unless you have a big deposit. But I don’t think prices will go down as Oxfordshire has a very resilient housing market.”