A study has revealed that the South Hams has seen one of the UK’s biggest increases in house prices over the past year.
In the data, from housing experts Purplebricks, the South Hams region was revealed to have experienced the tenth biggest property price increase in the UK.
The Winners and Losers House Price Index showed that house prices in the area rose by five per cent over the past year, which is equivalent to an average of £21,500 more per home.
The area was the highest ranked in the South West, being beaten across the UK only by North East Derbyshire, Spelthorne, Stratford-on-Avon, East Lothian, Winchester, Richmond-Upon-Thames, Sevenoaks, Rutland, and, topping the list, Tandridge.
Purplebricks suggests that the increase could be due to a higher demand for places away from large cities - but that are still commutable.
Sam Mitchell, CEO of Purplebricks said: “It is interesting to look at some of the factors that can make house prices in certain areas vary from the average trend.
“Certain London boroughs have been a particular hotspot for several years and prices there have doubled since 2015. This big yearly drop is likely to be just levelling off to a more realistic figure.
“At the other end of the spectrum, places further away from big cities are seeing a surge in demand from people who want to live there but still be able to have a reasonable commute.”