Brexit brings bitter taste for famous food property prices

Latest research from for sale by owner empowerment platform, www.okaylah.co.uk, has looked at how Brexit uncertainty has impacted even the most tantalising parts of the property market.

Areas of the UK famous for their culinary exports have seen house price growth slow behind that of the UK with an increase of just 6%, compared to 7% nationally since the Brexit vote.

The worst hit has been Aberdeen, although it’s likely that the declining oil industry has had the largest impact, not the Aberdeen Angus, with prices down -14% since July 2016. The Eccles cake (-9%), the Bath bun, and the Chelsea bun (-5%) have all also seen prices fall.

But it isn’t all stomach churning, there are 16 famous food property markets that have bucked the trend to enjoy some tasty increase in house prices.

Cheddar, home of one of the nation’s favourite cheeses has seen a huge increase in house prices of 45% since the Brexit vote. The Bakewell tart has also performed well, with house prices in Bakewell up 37%.

While the Dover sole technically comes from the sea not the local Dover property market, prices in the area are up 20% since Brexit.

Red Leicester, the second cheese to rank in the top five, has seen an uplift in property prices of 16% since Brexit, while home of the Pasty, Cornwall, has seen an increase of 13%.

Other food famous areas to enjoy above average growth are Worcester, Banbury, Lincolnshire, Gloucester, Sandwich, Everton, Wales, Lincoln, Tottenham, Malton Mowbray and Cromer.

CEO and founder of OkayLah.co.uk, Paul Telford, commented:

“It seems there is no area of the UK market that hasn’t been impacted by Brexit uncertainty to some degree, with even our best loved food-based locations seeing a slowdown in price growth as a whole.

That said, regardless of whether you look at the current property market landscape based on famous foods, price brackets and so on, the one thing that remains clear is it is diverse across the board and while some are seeing price growth slow, others are enjoying a very strong uplift indeed.”