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Property prices reach new heights with villa’s £6.25m
10:00pm Thursday 8th May 2014 in News
A NO-THROUGH road in North Oxford has been dubbed the city’s most expensive place to live.
The average house price in Crick Road, which runs between Fyfield and Bradmore Roads, near Banbury Road, is £2.8m, compared with £531,000 for the rest of the OX2 area, according to website Zoopla.
Now number 6, a detached Victorian villa, has gone on sale for £6.25m.
The nine-bedroom property has 6,000 sq ft of living space, including six bathrooms, a basement and a conservatory.
It was once owned by St John’s College and divided into nine apartments but the present owners, who bought it 30 years ago, converted it back into a family home.
Charles Wellbelove, director of agents Hamptons, which is marketing the house, said: “Crick Road is arguably the best and most expensive road in Oxford.
“Norham Gardens is very sought-after, but the good thing about Crick is it’s a no-through road and is therefore more peaceful.
“A number of houses within this area are owned by Russians, Arabs and Londoners. It’s very much about money coming in from international and London sources and the pull is not only the architecture, it is the schools.
“The sort of person who is going to purchase this house is either a Dragon [School] parent, or an international buyer who wants to get their children into one of them. The Dragon, Oxford High and St Edward’s are all near.”
Meanwhile, average house prices across the county are still rising and hit £256,383 in March.
That is up 0.7 per cent on February and equal to a yearly rise of six per cent, according to the Land Registry.
Property expert Nick Owens, a senior associate with law firm Penningtons Manches’s Oxford offices, said: “Prices in North Oxford are always on the up.
“It’s one of those micro-climates that seems impervious to everything that is going on around it.
“Even through the darkest time of the recession they were still going up in value and most of it seems to be a constant demand for the schools.
“To avoid traffic, people want to live near enough to walk or cycle easily to them.
“Crick Road, Fyfield Road and Charlbury Road are all no-through roads and are probably the most expensive in central north Oxford, although Norham Gardens is still very popular.
“People are coming out to Oxford from London but increasingly they are also coming from abroad.
“You can’t narrow it down to any particular place but there are plenty of buyers from the Far East, all over Europe and Russia.
“Most of these properties at this level don’t come on to the open market and will sell before they even come to the market.
“In the past 12 months, houses in that area have gone for more than £8m and I can’t see prices in north central Oxford slowing any time soon.”
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