August has delivered something rather more encouraging than the national property headlines might suggest.
Across West Oxfordshire, 151 homes were sold subject to contract during August, up almost 30% from the 117 recorded in July. At the same time, 173 new properties came to market, compared with 142 last month.
That gives us 87 sales agreed for every 100 new instructions, the strongest ratio we have recorded since we began tracking these figures in March.
The family market is moving
Three-bedroom homes were the engine room of the market, accounting for 59 sales, up 31% from July.
Two-bedroom sales increased even faster, rising from 28 to 40, while four-bedroom sales climbed from 22 to 30.
There is also a very clear price story.
Nearly 87% of August’s agreed sales were below £600,000. Between £250,000 and £600,000, 105 homes found buyers during the month, broadly matching the number of new properties entering the market.
Above £600,000 conditions become noticeably tougher. There were 39 new instructions above £600,000 during August, but only 20 sales agreed.
For sellers, the message is straightforward. Buyers are there, but they are comparing properties carefully and pricing has to stand up against the competition.
Carterton stands out
OX18 had an exceptionally strong month, recording 54 sales against 52 new instructions. That means buyers were not merely absorbing August’s new supply; they were also purchasing properties already sitting on the market.
OX29 also performed strongly, with 46 sales against 53 new instructions.
OX28 remains our largest source of new stock, with 68 properties coming to market against 51 sales agreed. Witney buyers therefore have more choice, which makes presentation, marketing and accurate initial pricing particularly important.
What happens next?
There is no avoiding the wider economic backdrop.
Nationally, Rightmove reported that average new-seller asking prices fell 2% in August, the largest August fall since 2018, as sellers competed for buyers in a market with unusually high levels of available stock.
We also have the Government’s first Budget under Prime Minister Andy Burnham approaching on 28 October.
There has already been considerable discussion around property taxation, Stamp Duty, Council Tax and taxation of higher-value assets. The Government has moved to calm some of that speculation, but uncertainty can still affect confidence.
Someone contemplating a move may understandably wonder whether they should act today or wait to see what October brings.
Our August figures provide a useful counterpoint.
West Oxfordshire buyers have not disappeared. In fact, agreed sales have rebounded strongly.
The opportunity is there, but this is a market rewarding realism rather than optimism. A correctly priced, properly presented home can still attract serious competition. An ambitious asking price risks becoming increasingly exposed as buyers are offered more alternatives.
For anyone considering selling this autumn, understanding exactly where your property sits within these local trends has rarely been more important.
