Proximity to the some the UK's most stunning coastal scenery is probably the South West's biggest lure, but the combination of rural idylls and bustling town centres is also appealing - for those fed up with the rat race of bigger cities, the South West offers the opportunity for a quieter pace of life without entirely opting out of all of the pluses of a city existence. There are also advantages in terms of climate to living in the South West - winters tend to be slightly warmer, although rainfall is relatively high.
Types of property
Both Bath and, to a lesser extent, Bristol, are characterised by uniformly beautiful terraces of warm, honey-coloured limestone. Of course, in the urban centres, there are also a number of new developments and apartment blocks, as well as a mix of bungalows and semi-detached homes. The coastal and rural areas of the country feature sought-after converted farmhouses, stone cottages and thatched properties boasting loads of character, but be prepared to pay top dollar for these. Having said that, the coastal areas also offer a fair bit in the way of modern chalets, which may represent a more affordable option.
With £100,000 to spend, you'll be able to afford a studio or one-bedroom flat in most parts of the region, but your budget is unlikely to stretch to much more than this, although you may be able to pick up a two-bedder in need of some TLC. Holiday chalets in areas like Hayle or Lelant near St Ives are also available in this price bracket, and can generate lucrative vacation rental income.
£250,000 will buy you a terrace or semi with upwards of three bedrooms; you'll also be able to buy into slick new townhouse developments in Bristol. The more sought-after locations may prove difficult to enter in this price range, but opportunities do come up for those who are quick off the mark. Expect to be able to buy a huge family home with a budget of £500,000: in an urban hub like Bristol, this might be a Victorian terrace or converted priory, while converted farmhouses and barns are available in the price range in more rural locations.
For those with £1 million burning a hole in their pockets, there are plenty of options, among them stunning listed buildings, usually set among acres of gardens. You can also expect to own a few outbuildings when you're buying in this price range, as well as bewitching views of the surrounding countryside and nearby towns. Of course, the cities also have a range of properties in this price range - historic spa towns like Bath boast no end of pricey properties and pockets of Poole are no less expensive.
Investment potential
Because of the continuing migration into the South West from other parts if the country, prices in the region continue to rise, all of which spells good news for the investor. In the last year alone, the increase has been around 12 per cent. The region's popularity with holidaymakers is also a bonus: many areas, such as Devon and Cornwall, may not have the executive or student rental market of the urban centres, but there' a huge demand for vacation rentals, especially as disenchantment with grim budget flights and overcrowded European resorts grows, and you can expect to charge top-dollar for holiday cottages in peak holiday times.
Unsurprisingly, Bristol also represents a good bet - not only have prices risen by over 12 per cent in the last year but the presence of the university makes for a lively rental market, as does the constant influx of migrants from other parts of the country. Rental yields are between 4.5 and 5.2 per cent, with the highest returns coming from properties located in the city centre.
Popular buying locations
One of the fastest growing counties in the UK, Cornwall's population has surged, mostly because of people migrating from other parts of the country.
It's highly sought after and has consequently experienced a huge rise in house prices over the past ten years - an increase of 274 per cent, prompting concerns that many locals have been priced out of the market. The region is popular with people of a retirement age but also with young families seeking a better quality of life and taking advantage of the web to set up businesses or continue in their current roles from home.
Due to its vibrant, cosmopolitan city vibe and wealth of employment opportunities, Bristol is a popular buying location, particularly for those wanting greater proximity to the coast for weekends away but unwilling to renounce the convenience and excitement of a city setting. Within the city, Clifton Village represents a highly desirable neighbourhood: full of Georgian charm and upmarket shops, it's popular with young affluent couples and the yummy mummy set - average property prices for a two bedroom property in this postcode area are well over £300,000. In terms of Bristol's other drawcards, picturesque Bath is nearby, while small villages, complete with authentic pubs and appealing farm shops, are just a short drive away. Babington House, the super-fashionable private members' club, is also in the vicinity, for a bit of A-list indulgence.
Up-and-coming areas
Newquay has become increasingly popular in recent years, driven in part by a new-found British passion for surfing, as well as by the ‘Oliver effect' - Jamie Oliver's 15 restaurant at Watergate Bay. Newquay airport is also served by low-cost airlines from elsewhere in the country, making the area popular for those doing the part-week commute.
Thanks to its coastal setting, good road and rail links to London, ferry access to the continent and proximity to Bournemouth, Poole has also seen a great deal of interest, with prices rising by nearly ten per cent in the last year to reach an average of over £266,000.
With thanks to BuyAssociation.
