Entire village in Devon is sold lock, stock and beach

Aug 15, 2014

A whole village on Devon's South Coast has recently sold £14 million, less than the price of some London houses, highlighting the disparity between property prices across the country. Video: Reuters

An entire village on Devon's South Coast, which comes complete with its own beach, village shop, thatched cottages and even its own golf course, has recently sold for less that the price of some London houses.

Bantham has been in the same family for generations, but was recently sold for an estimated £14 million.

It is unclear who has made the purchase, but according to one Bantham resident, the village attracted a lot of attention from potential buyers.

"Although one doesn't have a large country house to go with the estate, it's a unique area of outstanding natural beauty and therefore interest was shown because of that," said Bantham resident Peter Weedy.

In July the BBC reported that estate agents Strutt and Parker, who had been handling the Bantham sale, said it had been sold to a "family who will continue to conserve and manage the estate."

Some would consider it good value for money, particularly when compared to the prime London market, where houses in Bishop's Avenue in north London can cost as much as five times that.

Not all London properties cost millions - the average price is currently around £400,000.

But in the last year London property prices have shot up 26 per cent as demand outstrips supply, which is pushing some people to look further afield.

"The disparity between London and the rest of the country is at a record level and you get to a stage where people who are living in London think well with the sort of price differential there is perhaps it's worth while selling up in London and moving either to the outer reaches of London or a bit further out," said Ray Boulger, Senior Technical manager for mortgage specialists John Charcol.

Reuters

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