One of the thing that makes Woodstock a unique place is her market trends. Woodstock is a market town lying about 8 miles north west of Oxford and adjacent to Blenheim Palace, a UNESCO World Heritage Site and the birthplace of Winston Churchill. It is accessed via the A44 which runs through the heart of the town and provides access to the A34 trunk road to the south east. The town is served by constant bus services to Oxford and the local market towns of Chipping Norton and Witney whilst nearby Long Hanborough railway station renders all the rail services to London and Oxford.
It was very interesting some years ago as most of the sales in Woodstock over the past year were terraced properties which on average were sold for £388,112. Detached properties had an average sold price of £678,986 and semi-detached properties averaged at £466,000.
One of the properties comprises of a mid-terraced Grade II listed building of Cotswold stone construction beneath a pitched roof. The building provides a former banking hall on the ground floor with ATM and a single storey extension to the rear. Also, it should be noted that the basement and first floors provide ancillary accommodation and the second floor flat has been sold off on a long lease. Consequently, there is vehicular access to the rear providing access to parking for about 7 cars, which can also be accessed via a gated entrance from Market Place.
The moderate market price of properties in Woodstock cannot be overemphasized, Woodstock recorded an average price of £458,471 which was more expensive than nearby Long Hanborough (£427,539), but was cheaper than Bladon (£514,111) and Combe (£529,769).
In the past year house prices in Woodstock were 3% down on the year before and similar to 2015 when they were at an average of £455,638.
People that invest in property are now blooming because median house prices is now 16.7 times the median income, it is now obvious and clear that Oxford is now the most unaffordable city in the UK — more so even than London. Recently, young professionals — and their companies, since office rents have spiraled — have found home-hunting in the city of dreaming spires more of a nightmare.
Apart from this, the market trend in Woodstock is not always a cheaper alternative but also a home of treasury, the town has a distinguished past, at the heart of which is Blenheim Palace. The 18th-century pile — one of England’s largest homes — has accommodated the Churchill family, including its most celebrated scion Winston, for most of the past three centuries. It is the only non-episcopal country house in England to hold the title of palace. It is also, for local residents, a handy back garden in which to walk the labradors, for the annual sum of £24.90.
Villages such as Woodstock are a comfortable alternative offering buyers a little more space for their money,” says Huw Warren of Savills’ Summertown office. They might consider the three-bedroom Grade II-listed cottage in Bladon, Woodstock’s neighboring village, where Churchill is buried, which Knight Frank is selling for £650,000.
The most interesting part is that the one of local agent Flowers is selling a Grade II-listed cottage with three bedrooms for £395,000. That won’t buy you anything in the plush central-Oxford neighbourhood of Jericho. For £825,000 — the cost of a two-bedroom terraced house in Jericho — Flowers is selling a modern five-bedroom detached house on Glyme Close in Woodstock.
It is this blend of economic punch and contemporary location that pushed property prices up in Woodstock. In August last year, average sales prices rose 6.4 per cent year-on-year, according to Land Registry data collected by Savills, yet the average house price of £454,000 is still 10 per cent cheaper than in Oxford.
As it was said earlier above, the market power in Woodstock is increasing on a daily basis as the environment is accommodating more investors both locally and globally.
If you are looking to buy or let a property around Woodstock you can contact us st Scott-Symonds Estate Agents and we all happy to help.