When considering the price cycle, location is important insofar as it determines price. So it’s not so much ‘location location location’ as ‘performance depends on price which in turn depends on location’. This finding comes from data analysis, and applies at all levels of granularity from region to locality.
The price metric used throughout this analysis is £/m2, being probably more useful than number of rooms. It is calculated from the revalued aggregate of all properties sold at least once, divided by their aggregate floor area.
We look at price-points spanning the entire spectrum found nationally, and for this purpose we have selected 9 cases which are roughly evenly spaced in terms of their dissimilarity from the next case. In several cases there is nothing unique about the areas selected. Three cases out of the nine are in London, which reflects the steep price gradient in this microcosm.