Houses prices in Oxford have increased more than the average for the South East, the latest figures show.
The increase in house prices rose by 1.7 per cent in the city over February contributing to the longer-term trend, which has seen property prices in the area grow by 1.6 per cent over the last year.
The average Oxford house price in February was £460,277, 23.4 per cent more than the average price in the South East, Land Registry figures show.
Over the month, the picture was different to that across the South East, where prices increased 1.1 per cent, and Oxford was above the 0.4 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Oxford rose by £7,400, putting the area sixth among the South East’s 64 local authorities with price data for annual growth.
The highest annual growth in the region was in Winchester, where property prices increased on average by 6.1 per cent, to £490,000.
At the other end of the scale, properties in Gosport lost 12.2 per cent of their value, giving an average price of £234,000.
First-time buyers in Oxford spent an average of £405,600 on their property, £5,300 more than a year ago, and £40,000 more than in February 2019.
By comparison, former owner-occupiers paid £511,000 on average in February, 26 per cent more than first-time buyers.
Owners of terraced houses saw the biggest rise in property prices in Oxford in February as they increased by 1.9 per cent, to £456,005 on average.
Over the last year, prices rose by 1.6 per cent.
