When it comes to purchasing property in the UK, one might instinctively think of London. Yet, recent research reveals that the most expensive street for house purchases is not in the capital but in Oxford. According to data analyzed by Mortgage Lane, Charlbury Road boasts an astonishing average house price of £6.68 million, surpassing the average property price in London itself.
Over the past year, the average property sale price in London reached £660,975, with flats averaging £531,115 and terraced homes selling for an average of £741,630. Semi-detached properties followed closely, fetching around £764,010. Despite the high prices, London saw a significant downturn in property values, with historical sold prices down 8% from the previous year and 10% from the peak of £735,620 in 2023.
In contrast, the average property price in Oxford stood at £560,288 for the same period. The majority of transactions involved terraced properties, which sold for an average of £529,581. Semi-detached houses went for about £598,336, while flats averaged £347,041. Like London, Oxford’s property prices also declined, dropping 5% from the previous year and 7% from its peak of £603,829 in 2023.
Charlbury Road: A Desirable Address
Charlbury Road has emerged as a sought-after location due to its unique blend of historic charm, scenic surroundings, and proximity to esteemed academic institutions. As stated by experts, “The street’s combination of historic character, green surroundings and proximity to world-renowned academic institutions makes it one of the most desirable residential addresses in the country.”
Among the notable properties on Charlbury Road is a £7.95 million nine-bedroom detached house, built in 1908. This stunning residence features its own ballroom and drawing room, as described on Zoopla. The property retains many original features, including an elegant wide staircase, high ceilings with cornicing, and striking stained glass windows.
The ballroom, a unique aspect of the house, showcases an ornate ceiling, fireplace, and two large bay windows. Originally part of a grand design, the ballroom was incorporated into the home for its first owner, along with a library that has since been transformed into two en suite rooms.
For those seeking a more affordable option, the lowest-priced house currently listed on Charlbury Road is a four-bedroom property available for £2.15 million. This home requires complete renovation and extension. It is set back from the road and offers accommodation across two floors, totaling 2,110 square feet, including a garage.
As the property market continues to shift, the emergence of Oxford as a prime location for high-value homes highlights changing trends in buyer preferences. The allure of prestigious educational institutions and appealing residential features may contribute to the increasing demand for properties in this historic city.
