The English county of Oxfordshire is full of picturesque and historic towns that people have chosen to make a home in.
One region in particular seems to be doing very well as regards its property market.
Cherwell is a region located north of Oxford, and contains two towns and a village.
Kidlington is closest to the city, with Bicester a bit further up.
Banbury is in the upper reaches of the county, where the M40 motorway connects to the A422.
According to data, house prices in Cherwell have increased by a whopping 9.3% in a single year.
This is only beaten by the Shetland Islands in Scotland (21%).
Research by estate agent Hamptons also suggests that the average price of a house in the area of Oxfordshire was £367,770 in 2024.
Since 2019, this has increased by 30% as people are paying more for a country life in the region.
Christopher Scott of Hamptons told The Telegraph: “People are following the M40 motorway and the Chiltern Line north where they can get better value for money.”
The newspaper adds that the majority of Mr Scott’s buyers are moving out of London or the inner Home Counties, having been tempted to some extent by the less than one hour train journeys from Banbury to Marylebone in the capital.
Others are moving out of Oxford, he added.
Mr Scott said: “Prime central Oxford – Summertown – is really London prices.
“You would pay £1m for a three-bedroom semi.”
But, if you sit on the train for just another few minutes to Banbury, prices for a property there fall by around 30%.
It is thought that an increased number of UK residents may opt for buying houses rather than renting in 2025.
Experts anticipate that the Bank of England (BoE) will further reduce its base interest rate, prompting lenders to follow suit by lowering their mortgage rates.
Banbury had a population of 54,335 at the 2021 Census.
One of the town’s claims to fame is that it is home to the world’s largest coffee-processing facility – Jacobs Douwe Egberts.
This was built in 1964.
