Regional Spotlight: Plymouth

Plymouth's history is closely linked to the sea, being a long-established naval base and the place where Sir Francis Drake allegedly indulged in a relaxing game of bowls before nipping off to rout the Spanish Armada.

And according to Matt Bettesworth, director of hotel and licensed property agents Bettesworths, the local market for licensed businesses is "buoyant", reflecting the high level of interest in the area as a whole.

"The old South-west pull is as strong as it has ever been," Bettesworth says. "Plymouth is a nice place to live. We're still seeing plenty of people looking in the area, and we're finding more non-experienced types coming into the market than ever."

Until recent months, supply has been an issue, but with the increase in interest rates and the growing feeling that the market has reached its height, more properties have come on to the market.

"That's a good indicator the market is at a peak," Bettesworth says. "I think a lot of people are selling now because they think they can get top dollar. I think we're topping out, and the prices are levelling out as well."

The main hotspot is the Barbican development on the waterfront, with its shops and bars, but generally anything on the waterfront gets a lot of interest.

Bettesworth adds: "There are a lot of pubs in Plymouth, and a clear divide between local community boozers and the food-led operations you find down on the waterfront."