Which areas do properties hold value in when prices plummet?

[Mentalblip]

We are moving from a nice house fully done up and no major works needed but on a main road in a disconnected area in a cathedral city

To a house that's on a quiet tree lined street 5 -10 min away from a suburban train station (due to be finalised next year) which will link to a main station linked to hs2. The house is in a major uk city.

Just wondering what peoples experiences were of the last crash!

Forgot to add the house we are moving to needs quite a lot of work!

Prior to now the answer has always been London, but perhaps not this time!

I would probably avoid areas that saw some of the more dramatic price rises during/post lockdown. Certainly houses in rural areas - especially when you're spending a small fortune to heat it and the only pub in the village has shut due to rising costs.

I would hope that solid family houses with a garden, curb appeal and decent transport links would always be a fairly safe bet in the longer term.

In general terms all properties lose value, but probably stay at the same point in the market in a crash due to financial squeeze nationally or globally. So if your property is in the 50th centile of all properties, it will stay there, just lose value proportionally. Thing is, there isn't just lack of money, but lack of building materials and labour. So your doer upper might end up costing a lot more to do up, meaning you have put in more than the property is worth. Also covid and work from home meant people moving out of city flats to bigger country and seaside properties.

Is this Birmingham?

Affluent pockets near top schools. Where a house price is compared to the cost of sending kids to a private school.

Yes!

Then stick to the desirable areas in Birmingham, where are you relocating from? Whats your budget?

Can't give too much away but budget 500k and moving from a cathedral city in the West Midlands - without brilliant transport links!