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Average house prices in the South East, and especially London, rose even faster during 2014 (January to December) than in the same period of 2013, says new research by Professor Danny Dorling of Oxford University.

Average house prices in oxford more than 15 times average income

The findings by Danny Dorling, Halford Mackinder Professor of Geography at the University of Oxford, are published in his new paperback book, All that is Solid: How the Great Housing Disaster defines our Times and What We Can Do About It,  launched on on 26 February. He explains that one significant factor is that Oxford employees have lower incomes on average, with the London weighting allowance only applying to a small percentage of Oxford’s workers who commute to London.

The paperback book, coming a year after the book’s hardback release, includes more recent data on the leap in house prices in parts of England, Wales and Scotland, as compared with the latest government data on average earnings.

Professor Dorling said: ‘My own latest analysis from October 2014 to January 2015 shows that the ratio of average house prices to incomes in Oxford rose to over 15 times the average annual income as compared with 14 in London. This is reinforced by similar findings from the London-based Centre for Cities think tank, which has found that Oxford’s housing is now the least affordable in the nation.’

Read more on the University website (opens new window)

Media coverage

Financial Times 

The Telegraph