When it comes to buying property we often face a similar conundrum. Do we look to buy into the security of an established prime area at a premium, or a less expensive area that our friends tell us is definitely on the up, in the hope it will pay dividends in the longer term.

With this in mind, and in the absence of a reliable algorithm, Savills research team have been poring over house price data to compare and contrast established and emerging prime locations. Instead of searching by musical genres such as classical, jazz, punk, pop, rock or the other stuff that teenagers listen to, we have categorised our analysis by locations that include city and country, commuter and coastal. A snapshot of the results is contained in the following pages.

Market implications

These choices take greater significance in a prime regional housing market which has struggled to gain momentum over the past five years, but which is beginning to see a greater flow of wealth out of a subdued London market. During this time, values have only risen by 5.9%, though this average hides significant variation by location, type of property and price bracket.

As we look forward, some challenges remain, a pending EU referendum and a weakening economic outlook chief among them. There is also a different tax landscape to contend with, one with higher rates of stamp duty at the top end and surcharges on the purchase of additional homes.

While this is likely to mean the market remains price sensitive in the short term, it is also likely to encourage people to search out greater value, exploiting the value gaps between London and the commuter zones and the areas beyond, as we move into the next part of the prime housing market cycle.