There's a lot of talk on this forum about house prices crashing. However, does everyone think it'll be the same everywhere in the country?
Location is key. Do you think there are going to be some places that will weather the recession better than others? Which areas will be worse off in your experience/opinion?
I find it hard to call the London market, especially for this upcoming recession. However, my theory is that quaint Cathedral cities and royal spa towns (Bath, Leamington, Tunbridge Wells etc.) will be able to weather the recession a bit better than other places because a lot of them are very well placed to be a bridge between urban and rural lifestyles for those looking to work-from-home more often; past data suggests their property markets remain reasonably resilient even in recessions.
- 'Property Prices in Cathedral Cities'
- 'Soaring spires and rich histories lure eager home buyers: Four of the best cathedral cities to look for a house'
- 'The 13 UK cities where living next to a cathedral will boost the price of your home'
"Luxury estate agents Knight Frank crunched the housing data for homes that are within a 5km radius of a cathedral, for the year to end of October 2015, and found that not only do cathedral cities boast "excellent schools, transport links and high-end amenities," — it also has an instant boost effect on surrounding properties.
So, even if you're priced out of cities like London, there are a few that offer competitive property prices but still have all the amenities and favourable infrastructure for a commute."
This might offer some hope to those looking to move after lockdown!!