House prices in Doncaster could be least at risk in the event of a no-deal Brexit, a report has said.
The study suggests where in the UK property prices are most at risk from a No Deal Brexit – with London expected to be hardest hit.
But Doncaster emerges well in the study and could fare better than other places if Britain leaves the European Union with no deal next March.
READ MORE: Is Brexit good or bad for Doncaster?
House prices in London’s commuter belt could be hardest hit because it is home to some of the most polarised property markets in the country.
Places like Stevenage, Watford and Hastings are braced to feel the full brunt of a No Deal because the price gap between flats and houses are among the greatest in Britain and have widened the fastest, according to research from property investment platform British Pearl.
It found that the average detached house in Stevenage was 197% more than the average flat at £553,697 vs £186,422. This was the fifth largest gap anywhere in the UK and had grown 68.2% in five years.
The combination of these two measures makes the Hertfordshire town the most polarised property market in Britain, followed by Watford, Hastings, Rugby, Milton Keynes and Luton.
The price gap between flats and houses in Watford has grown 53.2% to 201.4%, while in Hastings it has widened by 63% to 184.7%.
However, the prospects for rapid depreciation in Britain varies wildly between areas. British Pearl used the two measures to rank the UK’s towns and cities to identify where investors and buyers would be more likely to see market cooling result in prices falling back down.
The firm suggests that its analysis is a warning to landlords, home owners, first time buyers and property investors to be wary of where the gaps between different steps on the housing ladder have grown most dramatically ahead of Brexit.
The average difference in price across the UK is currently 50.6%, and has grown 24.2% in the past five years.
At the other end of the spectrum was Doncaster, where the average detached house was 140.6% more than the average flat, while the gap between prices over the five years increased just 18.4%.
Doncaster was followed by Stoke-on-Trent, with a price gap of 131.2% that had grown just 26.9%, and Blackpool where prices were 153.9% apart, after widening 12.3% in five years.
‘Parts of the UK property market have made considerable gains and, the relative value of homes in different price bands now poses a serious risk to home owners and investors in the run up to March 2019,’ said James Newbery, Investment Manager at British Pearl.
‘The fallout from No Deal is most likely to be felt hardest in the capital’s commuter belt, where markets have moved too far and too fast. That is bad news for both ordinary investors and homeowners, particularly those who have borrowed to make their purchase,’ he explained.
‘However, the study also shows being diligent about the area you buy in can help you avoid these increased risks, with huge variations being seen in this polarisation measure across the country,’ he added.