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Research by Estate Agency Knight Frank Pinpoints the Areas Expected to Beat the Market Slowdown

 

So what is it about these locations that lead Knight Frank to believe that they are "bomb-proof"? Let's take a closer a look at some of them:

 

Cambridge

Top of the shop Cambridge ticks all of the boxes for wages, employment growth and workforce qualification. It is an historic city with one of the top two universities in the country, Addenbrooke's hospital and various science and technology parks springing up outside the city. Restrictive planning laws ensure a limited supply of good quality property with properties in or near the city centre in great demand. Affordability is not so good, as house prices in the city have risen by a whopping 49% between 2002-2007. However, buyers moving up from London, to take advantage of the good transport links, will not blanch at the £600,000 plus asking price for a centrally placed Victorian terraced house.

 

York

 

Like Cambridge, York has an attractive and historic city centre with relatively low centrally-placed housing stocks. It is two hours from London on the train and other cities such as Leeds are relatively easily commutable. Quality education is another pull of the city as it boasts some of the best state and private schools in the country.

 

Bath

Another picturesque and historic city at number nine on the list, its popularity boosted by the fact that Bristol, Swindon and London are all within striking distance.

 

Oxford

Another seat of education, Oxford is popular with academics and families trying to get their children into a good school, as well as investment buyers tapping into the lucrative student let market. This doesn't come cheap though; a period family house in central north Oxford will cost between £1.25m and £4m.

 

Milton Keynes

Living proof that a place doesn't have to be historic or picturesque to be popular, the somewhat sterile Milton Keynes is a hive of industry. Being a new town, it boasts well-planned infrastructure and fantastic transport links. Another bonus is the proximity of picture-perfect villages such as Woburn and Aspley Guise, set in beautiful countryside.

 

Guildford

A prime location for London commuters, Guildford can offer a better quality of life than that of the capital.

 

Worthing/Bournemouth

Both these locations owe their place on the list to their popularity as retirement destinations.

So that was an insight into the research carried out by Knight Frank for the Times newspaper. You might well ask why there was not a single location supplied by Scotland or Wales? Well, you may be interested to know that Channel 4's Location, Location, Location's "top 20 places to live in 2007" research panned out somewhat differently:

 

Rating	Location	Comment
1	Edinburgh	Scotland's capital is a regular high scorer with the LLL team
2	Winchester	Number one in the same survey for 2006
3	Epsom & Ewell	Surrey's highest placed borough
4	Waverley	Scenic surroundings & a high standard of living
5	Mole Valley	Low crime, good education and steady house prices
6	Surrey Heath	Picturesque green belt, described as "Tory territory".
7	South Cambs	A regular in the top ten for this survey and indeed, just about any top location survey.
8	Chelmsford	Lots of new development mixed with historic city centre character
9	Horsham	Finished second in the same survey of the previous year
10	Elmbridge	A high standard of living
11	East Dunbartonshire	Described as "Glasgow suburbia meets Scottish countryside".
12	Guildford	High average earnings and good commuter links
13	St. Albans	Poor affordability but a very sought after location
14	Rushcliffe	Rural tranquility and excellent transport links
15	Bath & North East Somerset	Culture vultures eat your heart out
16	Mid Sussex	Access to the city and the sea
17	Suffolk Coastal	Affordable, low crime and natural beauty
18	South Northamptonshire	An idyllic rural lifestyle within striking distance of Cambridge and Stratford
19	Reigate and Banstead	Commuter hotspot for the high earners
20	Wokingham	Low crime rate, high earnings and long life expectancy

 

According to Channel 4, this list was compiled using official statistics on crime, education, employment, environment, lifestyle and health. So why do these lists vary so much? One may suggest that the business locations of Knight Frank may play a factor in the first list. Having said that, just how reliable is the second list, compiled on official statistics. We all know how prone to massaging figures local authorities and central government can be.

 

One thing is for certain though. If you have a decent property in a good location, over the long term you cannot possibly lose, no matter what the economy decides to do in the meantime. In the words of Theodore Roosevelt (1858-1919): "Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth". Wise words indeed.

Do you think that these locations are really downturn-proof? Maybe you live somewhere that you think should have made the list. Contact Us and have your say