Just how active is the Witney property market?
I saw an article recently highlighting the most active housing markets in the UK and this made me wonder how Oxfordshire and the surrounding areas compared.
Using the same metrics, I was able to obtain the following results:
It’s no surprise that flats change hands more frequently than houses. I have already reported on the stellar capital growth performance of flats in Witney and this level of demand underpins the strong performance identified (Witney in 6th place Nationally!). On the flip side, the turnover of houses is still healthy, with 5.1% of private stock sold within the last 12 months. Looking at this from another angle, local home owners are only moving house every 19½ years. This is significantly longer than the national average (at around 14 years) and is likely a reflection on the shortage of properties available locally and the small number of new builds sold in the previous 12 months.