A traditional two-up, two-down property in one of Oxford’s most fashionable areas, Jericho, will set you back about £500,000.

But agents say buyers consider it worth every penny, thanks to its proximity to the town centre and individual character.

Guy Shaw, of John D Wood, said: “Jericho is incredibly popular due to a range of factors such as being just five minutes from the centre of Oxford.

“The area has its own restaurants, shops and bars, including Brasserie Blanc, great pubs such as The Old Bookbinders Arms and the Jericho Tavern which, along with the Phoenix Cinema, are all within walking distance.

“People like the buzzy, fun atmosphere. It’s very fashionable and we get many clients who say they’d love to live in Jericho.”

Mr Shaw is marketing number 47, Observatory Street, a three-storey, 19th-century, semi-detached with two bedrooms, two reception rooms, garden and off-street parking, for £475,000.

Mr Shaw said: “This is a very attractive brick-built cottage that has been recently decorated and fitted with a new bathroom and kitchen. It is incredibly rare to find a house in this location with three floors and off-road parking.”

Another property on his books is 168 Kingston Road, priced at £525,000.

It includes two reception rooms, two bedrooms, an extended kitchen, cellar and garden.

“It is a beautifully turned-out house with an extension that has been extremely thoughtfully done,” he added.

A terraced Victorian cottage in Mount Street is on the market for £450,000 with agents Penny & Sinclair.

The house has two bedrooms, one ensuite. Lizanne Simmons, of Penny & Sinclair, said: “They are the old workers’ cottages and are most popular for new families who want to be in the St Barnabas Primary School catchment and first-time buyers.

“Jericho is ideal for couples because if they commute to London, they can walk to the station.

“The other great draw are individual shops, bars and restaurants but it is a quiet, residential area.

“There is also the canal and Port Meadow within walking distance.

“A standard terraced two-up, two-down goes for £425-450,000 but if it has something extra like a loft conversion, extension or off-road parking, that lifts it nearer £500,000.”

For more information, contact John D Wood on 01865 311522 or visit johndwood.co.uk or Penny & Sinclair on 01865 318013 or visit pennyandsinclair.co.uk