In a housing downturn, not all cities and towns are equal. New research¹ has highlighted which areas of the UK are the most resilient in the face of falling house prices.

The safest bets

Which areas are standing firm to falling house prices? The most ‘recession-proof’ area, according to the study, is the London Borough of Kensington and Chelsea, closely followed by Westminster and Camden. Swansea and Oxford both also deserve a mention.

In total, Scotland has so far suffered a less abrupt slowdown in house prices than elsewhere in the UK, according to Nationwide.

On the slide

In January, overall property prices fell for a fifth consecutive month, as the market continued to cool. Falling house prices have been brought about by soaring inflation and mortgage costs, as well as cost-of-living pressures placed on households.

Here to help

The ranking of the 96 most-populated local authority areas was based on factors such as mortgage debt, the proportion of first-time buyers and price changes in the past year.

In an uneven market, we are here to help guide you through everything you need to know.

Clifford Osborne are independent mortgage advisers based in Eastbourne, East Sussex. We serve clients in Tunbridge Wells, Brighton, Lewes, Uckfield, Hastings, Bexhill, Seaford, Newhaven and further afield.

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¹Garrington Property Finders, 2023

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