Certain areas of Manchester are immune to property turmoil, claims one industry insider…

Stephen Hogg, a partner at King Sturge Residential, recently stated: "Even if the worst property crisis ever to hit in the history of man happens this year, people will still want to live in Chepstow House and the Century Buildings in Manchester."

Mr Hogg also suggested that the suburbs which do have good transport links will also be safe from any general property slowdown, stating: "Places with the tram link into Manchester, such as Didsbury and Altrincham, will be in the best position to hold their values."

As well as Manchester, the rest of the north has plenty of 'bomb proof' property spots, the paper notes, comprising other commuter areas such as Wetherby in Yorkshire (ideally situated for commuters into Bradford and Leeds), places with large student populations (good for buy-to-let) and scenic areas such as the Lake District (where second homes go for millions), all providing such insurance against a slowing market.

Market still buoyant

Last month Ian Perry of City South Developments forecast that a whole range of new developments would keep the pot bubbling.

He told the Manchester Evening News: "The continued revitalisation of east Manchester, MediaCity, Metrolink expansion and the potential for many new corporates to be basing themselves in the city, means the market is still buoyant here, much more than other regional capitals."

Last month the Independent listed Liverpool as one of the likely 2008 property hotspots due to the major, though ephemeral, splat of its European Capital of Culture status. However it seems that many places in the north have more permanent and lasting appeals which should ensure, whichever half of the country does best or worst in leaner economic times, that the hotspots stay hot.