Why Oxford's soaring property market is a danger to your business Chris #BusinessOxygen.

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Presentation transcript:

Why Oxford's soaring property market is a danger to your business Chris #BusinessOxygen

Average house price in Oxford of £361, times average annual earnings Source: Lloyds Bank Affordable Cities Review

Average private monthly rents for 2 bed homes Sources: thisismoney.co.uk, Shelter, Ordnance Survey Data

Average gross annual salary£33,842 Monthly gross income£2,820 Monthly take home pay£2,182 Monthly rent for a 2 bed home£900 Rent as a proportion of take home pay41%

Sources: thisismoney.co.uk, Rentify How much salary people sacrifice for rent

Why? Supply problem

100,000 homes in the county 15,000 around the city

46,000 people commuting to Oxford every day Source: Oxford City Council, 2011 Census

The cost of living – 58% Purchasing a property – 32% Commuting – 23% Barriers to recruiting & retaining skilled staff

“We’re sitting on a catastrophe” Councillor Bob Price, Leader of Oxford City Council

Commuting unsustainable long term?

The problem for businesses The business stages model courtesy of Shirlaws Business Coaching

Reputation Relationships Sales

Chris #BusinessOxygen