Values across the 20 biggest UK cities are now expected by property analysts Hometrack to increase by six per cent to seven per cent over the course of 2017, higher than the previous prediction of four per cent made in December 2016.

Oxford, like London and Cambridge, has seen a marked slowdown in the rate of house price growth over the past 12 months.

Record low mortgage rates and falling unemployment are generally continuing to help support price growth, Hometrack added.

It expects growth to continue over the remainder of 2017.

The cost of an average house in Oxford is currently £424,800 and prices are forecast to increase by 2.1 per cent over the next year.

Richard Donnell, research and insight director at Hometrack, said: “Despite a material slowdown in the rate of house price growth in South Eastern England, the headline rate of city house price inflation is holding up, despite the squeeze on real incomes and uncertainty around Brexit.”

He said in London, the Brexit vote appears to have had a greater impact on buyer sentiment, and combined with affordability issues has led to a slowdown.