Property Prices: Housing shortage pushes costs up (From Oxford Mail)
AVERAGE house prices in Oxfordshire have hit their highest level since the economic downturn.
Figures from the Land Registry showed the average price for properties sold in May was £241,290, less than £4,000 below the same month in 2008.
Property experts said a shortage of homes for sale in sought-after areas of Oxford had pushed up prices, but that buyers faced a much harder task in getting mortgages since the crash.
Estate agent Graham McDonald, of Kemp & Kemp, said: What has kept Oxford prices up has really been a lack of supply. Despite the economy prices have gradually crept up.
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