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Rich Areas Have Stagnated Most In Provinces

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It is the contention of Bulls on this site that price stagnation outside the South East has occurred because such areas are 'S***holes.The reverse is actually the case,the poorer areas have benefitted from the influx of Eastern European immigrants and prices have remained firm.Where migration has not occured in the Super Wealthy areas prices despite wealth have not been insulated from stagnation or even crash.To illustrate the point I am going to take six provincial boroughs which appear in the top fourteen of the UK wealth league,the other eight are in the south east where prices due to foreign money have fared better.These are(1)Sandbanks(3)Alderley Edge(5)Derbys Dales(7) Sheffield Hallam(11)Harrogate and(14)Sutton coldfield.

The figures I am going to give are the peak in each area,usually 2004,followed by the price now.Alderley Edge is the only area up and then by less than the UK average.Sandbanks the UKs richest borough has no figures but neighbouring Poole has fallen from 248K to 239K.Alderley in third position has risen from the 2004 peak but only from 441K to 452K.Derbys Dales in fifth position has collapsed:the north of the district Hope valley from397k to 292k now,in the middle Bakewell from 332k to 292k.There are no figures for Sheffield Hallam but one suspects a similar picture to Derbys Dales it borders.Harrogate in twelve place is 227k down to 225k and Sutton Coldfield is also 2k off the 2004 peak of 238K.The latter two have stagnated rather than crashed probably due to their urban make up where migration will have some bearing.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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