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There is a growing shift taking place in the Bicester property market, and it is not one that can be ignored. While much of the national conversation focuses on house prices and interest rates, a quieter yet more revealing metric is beginning to stand out, how long properties are taking to sell.
The latest figures from the Office for National Statistics (ONS) suggest something rather unexpected. After years of worsening affordability, the picture has begun to improve. Wages have risen faster than house prices since 2021, nudging the headline affordability ratios in the right direction. On the face of it, that feels like progress.
For decades, the flat was the natural starting point for many first-time home buyers. The first rung of the ladder. The affordable option. The stepping stone to something bigger. For landlords, it was a dependable investment. For first-time buyers, it was often the only way in.
When you have had your property on the market for a while, many sellers eventually face the same difficult decision: whether their asking price needs adjusting to reignite buyer interest.