Regional representatives from the NAEA believe that the urban centres of Bath and Bristol are assisting growth but that the more rural areas also continue to see growth.
Stephen Morris, of the National Association of Estate Agents who works at local agency Davies and Wray in Saltford, said: “We believe that growth has been maintained by an influx of people coming to the region as a result of the recession and perhaps wanting to leave behind big City life.
“Areas such as Saltford are near enough to thriving areas like Bristol and Bath but do provide an alternative to living and working in London, for example.”
The average house price for the South West is £227,866 – an annual increase of 13.5 per cent (*statistics from the Land Registry and the NAEA monthly survey) which makes it one of the best performing areas in the country for house prices. This growth has been led by Bath and North Somerset but also the coastal counties of Dorset, Cornwall and Devon.
“We feel confident about the prospects of the region. Having operated here for a long time, we are aware of how strong the region’s performance has been and exactly why it is that buyers are attracted to the region. As well as beautiful scenery, a strong tourism industry and good transport connections, we also have a compelling compromise between rural and urban life, good schools, and, I think, a regional identity that draws people in from across the country.”
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