The first Ladies' Oxford and Cambridge boat race ; a style and speed test - the winning Oxford crew . The first University women's boat race was held at Oxford on 15 March 1927 . Oxford beat Cambridge . The event was not a race in the usual sense of the word , for each crew took to the water separately . Judging was for style downstream and speed up-stream . The umpires disagreed as to the style but in the speed test Oxford showed themselves the stronger crew .