Proportunity, a London-based neolender, has analysed millions of data points to reveal the top 10 recession busting areas to buy a home across England and Wales.
The list is based on characteristics of the areas which performed well in previous recessions. The top characteristics identified include:
- Affluent areas with low housing supply
- Areas with a higher proportion of millennials, which pimples higher economic activity
- Areas with a large portion of older properties
- Areas with heavily used train stations
- Areas where homes are larger than average in size (floor area)
London locations Kingston upon Thames, Haringey and Harrow rank most resilient through recessions. Kingston upon Thames offers an iconic location, green areas and an ideal location for families; Haringey is one of London’s most sought-after locations, offering larger homes; and Harrow offers affordable homes with very good schools, all well connected to the city.
Meanwhile outside of London, homes in South Gloucestershire, on the outskirts of Bristol with top schools and low crime rates. Properties in Luton, top London commuting location with affordable homes, are also likely to hold their value throughout the economic turbulence. Bracknell Forest, Broxbourne, Derby, Rugby, and Portsmouth are also among the top recession busting areas in England and Wales.
At a glance: The top 10 locations for recession busting homes in England and Wales right now, according to Proportunitiy’s data analysis:
1. Kingston upon Thames
2. Haringey
3. Harrow
4. South Gloucestershire
5. Luton
6. Bracknell Forest
7. Broxbourne
8. Derby
9. Rugby
10. Portsmouth
Vadim Toader, Proportunity CEO and co-founder comments: “Buying a home is an exciting and nerve-wracking time. Add rising prices and economic uncertainty and the decision on whether to buy or not to buy becomes more complicated than ever before.
“Knowing the characteristics that make homes more likely to retain their value and the top areas of resilience is a simple way to protect your purchase. Whether it's a recession, a pandemic or just uncertainty, ticking the boxes of what is likely to weather the economic storm adds an extra layer of security to your new home.”
