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Published byDorothy Barber Modified over 8 years ago
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Why Oxford's soaring property market is a danger to your business Chris Thompson @ThompsonCST #BusinessOxygen
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Average house price in Oxford of £361,429 10.68 times average annual earnings Source: Lloyds Bank Affordable Cities Review
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Average private monthly rents for 2 bed homes Sources: thisismoney.co.uk, Shelter, Ordnance Survey Data
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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%
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Sources: thisismoney.co.uk, Rentify How much salary people sacrifice for rent
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Why? Supply problem
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100,000 homes in the county 15,000 around the city
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46,000 people commuting to Oxford every day Source: Oxford City Council, 2011 Census
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The cost of living – 58% Purchasing a property – 32% Commuting – 23% Barriers to recruiting & retaining skilled staff
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“We’re sitting on a catastrophe” Councillor Bob Price, Leader of Oxford City Council
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Commuting unsustainable long term?
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The problem for businesses The business stages model courtesy of Shirlaws Business Coaching
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Reputation Relationships Sales
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Chris Thompson @ThompsonCST #BusinessOxygen www.wellersaccountants.co.uk
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