Oxford housing crisis to worsen as properties break £0.5m barrier

Average house prices in Oxford are set to break £0.5m barrier this year adding to the worsening housing crisis in the City.

Research by the Green Party using historic house price data to Jan 2015 (the latest available from home.co.uk) is predicting that average house prices in Oxford will this year break through the symbolic half million barrier (£500,000). This comes after a recent Green Party analysis of rents in the city which showed that rents for one bedroom flats are now more than half the gross average salary. 

graph-house_prices.pngThe chart to the left shows average house price sales by month (blue line) and trendline line (dotted red). Source data from home.co.uk.

Says Green Housing Spokesperson and City Councillor Sam Hollick, "Rising house prices are arguably the most significant driver of inequality in the city affecting not only homeowners but also  the cost of renting. If we are to tackle the widening gap between rich and poor within the city, then there needs to bold and radical changes in housing policy both locally and nationally."

Says Green Parliamentary Candidate for Oxford East, Ann Duncan; "The Greens want more Council homes to be built, tighter rent controls and the removal of tax incentives for buy-to-let landlords. Continuing with business-as-usual is not an option."

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