House prices in 'OX7 3', Charlbury

This article reveals price per square foot data and various charts to help you understand current housing market in 'OX7 3' (Charlbury, Chipping Norton) - statistics were last calculated on 03 December 2024.

Defining 'OX7 3'

This analysis is limited to properties whose postcode starts with "OX7 3", this is also called the postcode sector. There are no official postcode sector names so I've just labelled it OX7 3, Charlbury. It is shown in red on the map below.

Want to change geography?

You can click on the map above to change to a neighbouring sector, or you can use the search form below.

Price per square foot

Knowing the average house price in OX7 3 is not much use. However, knowing average price per square foot can be quite useful. Price per sqft allows some comparison between properties of different size. We define price per square foot as the sold price divided by the internal area of a property:

£ per sqft = price ÷ internal area

For example in September 2024, Waylands, 19, Wychwood Paddocks, Charlbury, OX7 3RW sold for £650,000. Given the internal area of 1,786 square feet recorded on the EPC, the price per sqft is £650,000 ÷ 1,786 sqft = £363.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-). It is a huge pain to code the automatic conversion for square meters to square feet for all the graphs and charts on OX7 3 and elsewhere. All the conditionals turn my tidy code for into spaghetti. I will get around to it at some point, but for now you can just divide everything by 10 in your head, move a decimal place and you'll be close enough. If you want to be more precise 1 sqm = 10.76391 sqft.

Distribution of £ per sqft for 'OX7 3' vs 'OX7'

The chart above is called a histogram, it helps you see the distribution of house price per sqft in OX7 3 To make this chart we put all the sales data into a series of £ per sqft 'buckets' (e.g. £487 to £510, £510 to £534, £534 to £557 etc...) we then count the number of sales with within in each bucket and plot the results. The histogram is based on 122 sales that took place in OX7 3, Charlbury, Chipping Norton in the last 24 months.

Generate a custom histogram like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in OX7 3, Charlbury. Notably, only 25% of properties that sold recently were valued at more than £524 sqft. For anything to be valued more than this means it has to be more desireable than the clear majority of OX7 3 homes.

Box plot of £ per sqft for OX7 3

Tip: click on the chart to see the values.

The chart above is called a boxplot (or a box-and-whisker plot). Box plots, like histograms, are used to graphically represent the distribution of data, showing the central tendency, spread of the distribution. In the context of £ per square foot property price distributions, box plots represent the variation in property prices within a geographic area e.g. Charlbury. The chart above shows a boxplot for 'OX7 3' as well as the 'OX7' postcode district.

  • Median: The horizontal line inside the box represents the median (£ per square meter). This is the midpoint of the data, meaning 50% of the prices are below this value, and 50% are above. The middle price per square foot in 'OX7 3' is £447.
  • Interquartile Range (IQR): The box spans from the 25th percentile (Q1) to the 75th percentile (Q3). This is the range where the middle 50% of the data lies, giving a good indication of the typical price spread. Of the 122 transactions in OX7 3, Charlbury half were sold for between £373 and £524 per square foot.
  • Whiskers: In our case, the whiskers extend from the 9th percentile (at the lower end) to the 91st percentile (at the upper end), This provides a slightly broader view of the distribution by including the middle 82% of records. The whiskers capture most of the variation but exclude extreme outliers caused by data errors in recording sold house prices or internal area.
  • 'n=' is the number of property transactions the box plot is based on; 122 for OX7 3, Charlbury.

    • Property price map for Charlbury

    Have a look at the interactive price map I created for myself. Use it to explore 'OX7 3' house prices all the way down to individual property plots.

    Property price heatmap for Charlbury
    House price map for Charlbury

    Charlbury house price forecasting

    I cannot tell what house prices will do in the future and don't believe anyone who says they can. However we can plot price trends, I have done this in the chart below for OX7 3 (Charlbury) compared with the wider postcode district of OX7. You can extrapolate from this based on your own views on future interest rates, inflation and other factors.

    House price index for OX7 3

    Tip: click on the legend items to show/hide different lines

    Download house price index as CSV (premium users only).

    The chart above shows changes in 'OX7 3' property prices over the last 20 years. The index is calculated from the average price paid per sqft for property in OX7 3 and is set to 100 in 2004. I'm comparing the trends for OX7 3,Charlbury with the wider postcode district of OX7 What is more interesting is to look at the difference between flats and houses, even those in the same area follow a very different trend, to get a robust enough sample size to see this we need to zoom out and look at house price trends for the entire West Oxfordshire local authority.

    The dashed lines show nominal house price changes, the solid lines show the same data adjusted for inflation. Economists call this the 'real' price change. You have to take inflation into account when comparing prices over time. It's calculated using the formula:

    Real Rate of Return = (1 + Nominal Rate) ÷ (1 + Inflation Rate) – 1
    In this formula, the nominal rate is the rate of change before any adjustments, and the inflation rate is taken from the Consumer Price Index. The real rate of return is a more accurate measure of change in value, because £1 today does not have the same buying power as £1 in the past. For example, if a savings account pays an interest rate of 3% per year and the inflation rate is 5% per year, the real rate of return is -2%. This means that the investment's value is shrinking by 2% each year.

    Historic returns for OX7 3
    OX7 3 sector OX7 district
    Nominal Real Nominal Real
    20 yr per annum 3.7% 1.1% 3.1% 0.4%
    20 yr total 108.6% 23.5% 83.6% 8.8%
    10 yr per annum 3.6% 0.7% 3.6% 0.8%
    10 yr total 41.8% 7.7% 42.3% 8.1%
    5 yr per annum 2.8% -1.2% 3.2% -0.9%
    5 yr total 14.8% -6.1% 16.9% -4.3%
    1 yr per annum 0.4% -3.6% -3.9% -7.7%
    1 yr total 0.4% -3.6% -3.9% -7.7%

    This table complements the house price index chart above, presenting the data in a more detailed format. It breaks down the information into 20-year, 10-year, 5-year, and 1-year periods, further categorized by property type. For each period, we display both a per annum rate of change and a total rate of change.

    The total rate of change represents the overall change over the entire period. The formula for total return is:

    Total return = (Index at end of period ÷ Index at start of period) - 1

    The per annum rate of change is the annualized rate of change over the period. This is equivalent to the annual bank savings rate you would need to achieve the same total return over the given period. This annualized return is also known as the Compound Annual Growth Rate (CAGR). The formula for CAGR is:

    CAGR = (1 + Total return) ^ (1 ÷ Number of years) - 1

    Some specific examples:

    • Over the past 20 years, OX7 district have seen a 0.4% annual change when adjusted for inflation. This translates to a total change of 8.8% in real terms.
    • Over the past 5 years, OX7 district have seen a -0.9% annual change when adjusted for inflation. This translates to a total change of -4.3% in real terms.

    Most recent OX7 3 sales

    For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

    Tip: hover over dots to see details

    Street level data

    Street Avg size Avg £sqft Recent sales
    Hill Crescent, Charlbury, OX7 3B 75 sqm £317 15
    Market Street, Charlbury, OX7 3P 145 sqm £497 10
    The Green, Charlbury, OX7 3Q 85 sqm £394 10
    The Slade, Charlbury, OX7 3S 112 sqm £377 10
    Enstone Road, Charlbury, OX7 3Q 97 sqm £399 9
    Woodfield Drive, Charlbury, OX7 3S 99 sqm £361 9
    High Street, Charlbury, OX7 3D 145 sqm £382 8
    Elm Crescent, Charlbury, OX7 3P 100 sqm £399 8

    Search for your street here.

    Nearby geographies

    The table below shows how 'OX7 3' compares to the other postcode sectors in OX7.

    Sector Lower quartile Median Upper quartile Sales in last 2yr
    OX7 7 Middle Barton £313 sqft £348 sqft £418 sqft 41
    OX7 6 Milton Under Wychwood £376 sqft £466 sqft £589 sqft 176
    OX7 5 Chipping Norton £319 sqft £382 sqft £441 sqft 249
    OX7 4 Enstone £361 sqft £401 sqft £487 sqft 34
    OX7 3 Charlbury £373 sqft £447 sqft £524 sqft 122
    OX29 9 Leafield £354 sqft £417 sqft £465 sqft 42
    OX29 8 Long Hanborough £362 sqft £407 sqft £461 sqft 144
    OX29 6 North Leigh £344 sqft £389 sqft £454 sqft 60

    Raw data

    Our analysis of OX7 3 is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

    Address Paid sqft £/sqft
    Waylands, 19, Wychwood Paddocks, Charlbury, Chipping Norton £650,000
    Sep-2024
    		 1,786 363
    2 Elmsdown Cottages, Wilcote Riding, Charlbury, Chipping Norton £220,000
    Aug-2024
    		 387 567
    7, Woodfield Drive, Charlbury, Chipping Norton £370,000
    Aug-2024
    		 990 373

    See the entire list of all sales in OX7 3 here.

    About

    I created HouseMetric because I wanted to see this data and analysis myself, I also wanted to teach myself to build a website. Please give me feedback or spread the word about it. I'm constantly tinkering and adding more stuff to it.