Would-be homeowners in parts of Oxfordshire may need to borrow more than 21 times the average income to be able to afford a house. Homes across the country are now almost twice as unaffordable as they were at the turn of the century. Oxfordshire property prices fit into this.
Figures from the Office for National Statistics show that in the year to September 2021, the average house in England and Wales cost around 8.9 times the average income . This was up from 5.1 times in the year to September 2002. Within Oxfordshire, that ratio ranged from 12.3 times average incomes in Oxford, to 9.6 times average incomes in Cherwell (up from 5.8 times).
Local Authority // Neighbourhood // Average income // Average house price // Difference
South Oxfordshire // Shiplake and Binfield Heath // £48,419 // £1,032,500 // 21.3
Oxford // Summertown // £47,552 // £800,000 // 16.8
South Oxfordshire // Benson and Crowmarsh Gifford // £38,887 // £560,000 // 14.4
Oxford // North Central Oxford // £70,733 // £944,950 // 13.4
Oxford // Grandpont and New Hinksey //£41,053 // £550,000 // 13.4
South Oxfordshire // Sonning Common and Kidmore End // £44,736 // £587,498 // 13.1
A house in one neighbourhood in the Didcot Ladygrove area of South Oxfordshire – the most affordable area in Oxfordshire property prices- could be bought for just 4.7 times the average household income. There, the average net household income is an estimated £62,826 a year, and the median house price is just £295,000.
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