House prices across Oxfordshire dropped slightly in October – more than the South East average in Cherwell and South Oxfordshire.

According to Land Registry figures, house prices dropped by 1.2% between September and October in Cherwell, where the average house price fell to £358,325 and dropped by 2.4% in South Oxfordshire with an average price of £533,122.

In other areas of the county, the drop from September to October was 0.3% in Oxford (average house price of £502,006), 0.5% in West Oxfordshire (£413,904) and 0.9% in Vale of White Horse (£434,002).

The average price in the South East for a property in October was £389,000.

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Over the last year, the average sale price of property in Cherwell fell by £11,000. However, it rose by £15,000 in Oxford, £14,000 in West Oxfordshire, £270 in South Oxfordshire and £3,400 in Vale of White Horse.

The highest annual growth in the region was in Tandridge, where property prices increased on average by 10.3%, to £575,000.

First-time buyers in Cherwell spent an average of £293,200 on their property – over £8,000 less than a year ago however, first time buyers in the four other areas faced increases – the highest of which was £11,000 in both Oxford and West Oxfordshire.

Average costs for first time buyers were: £439,000 in Oxford, £338,000 in West Oxfordshire,  £422,554 in South Oxfordshire and £338,500 in Vale of White Horse.

Property prices are higher in the South East in contrast to the rest of the UK, which sees an average cost of £288,000.