Oxford Housing Costs High Making it Hard for Single Home Buyers

Zoopla made a list of housing affordability. The list ranks areas to buy a small home, one or two bedroom places. The ranking considers property values and income.

Oxford ranked sixth least affordable. A small home costs £364,400 on average there, which is 8.7 times local earnings.

London’s Kensington and Chelsea are most expensive; a small home averages £925,870 there. Aberdeen is the most affordable in Britain.

Aberdeen’s average small home costs £119,350, three times local earnings, per Zoopla’s data. Liverpool is the second most affordable city.

Liverpool’s small homes average £130,800, which is 3.7 times average local earnings there. Wage growth helped housing affordability, improving it in southern England in the last year.

House prices rose nearly 1.5% recently in Southern England (excluding London). Earnings grew 5.6% in that area, according to Zoopla.

This helped in Bristol, Oxford, Portsmouth, and Cambridge, which also saw gains.