Despite the fall in house prices in recent times, property remains one of the best forms of investment in the long term, new figures reveal.
The latest Halifax House Price Index report shows property prices in the South West have nearly doubled in the last ten years.
However, at 89 per cent, the region lags slightly behind the UK average of a 91 per cent increase since the end of 2000.
The average house price in the South West rose from £99,305 in December 2000 to £187,918 ten years later.
Halifax economist Suren Thiru said: "The turn of this century marked the start of a period of strong house price growth across the UK. The traditional home of price gains, the South, was left behind by strong growth in the North where house prices more than doubled over the period. But recently there has been a slight reversal of this trend with the housing market in the south of England outperforming the rest of the country over the past few years."
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