Salcombe has grabbed the headlines recently for having most £1 million pound properties outside London – an eye-watering proportion which are second homes (43 per cent at the last count).
Little wonder, then, that this pretty coastal town in the most southerly tip of Devon has acquired the nickname "Chelsea on Sea".
But there is more to Salcombe than high property prices and ritzy weekenders. Yes, some of the houses do command gasping price tags – £750,000 for a two-bed fisherman's cottage here is quite the norm, as is £5 million for a Georgian gentleman's residence with four acres of foreshore and its own guest wing. But locals insist that Salcombe is thriving, with plenty to do for everyone, from art clubs to am dram, yachting to simply going to the pub.
Back up the hill a bit and away from the shops and restaurants along the sea front, it is perfectly possible to buy a three or four-bedroomed house here for under £400,000. You won't have the sea view, but you'll still be part of what locals insist is a vibrant and friendly community. Look at the Beadon development, with views back up towards Dartmoor, for 70s and 80s homes with a more down-to-earth price tag.
We're just coming up to peak season in Salcombe, when the streets really do throng with people and parking can be difficult. But outside this time of year and you'll find it a pleasant and lively place to live, especially from Friday to Monday, when many loyal second-homers come down regularly and take part in the community here. Many go on to retire here and live full-time in the town.
Although most of the second-homers are simply well-heeled business people from London and the Home Counties, there is some star-spotting to be done. TV baking star Mary Berry, Sir Michael Parkinson and rugby's Sir Clive Woodward all have homes here. And rumour has it that both Rod Stewart and Wayne Rooney have been house-hunting in Salcombe recently. Not together, obviously.
People here enjoy the safe, sheltered waters of the Kingsbridge Estuary and the annual Salcombe Regatta in August sees 400 or more boats competing. But the town also has a flourishing rugby club, entertainments from the Salcombe Players and a well-attended art club. Shopping is a little on the pricey side, with branches of White Stuff, Musto and even Cath Kidston in the town, as well as independent fashion boutiques such as Bibi.
But perhaps it is thanks to Salcombe's loyal out-of-towners and their deep pockets that this small town supports a fishmonger, a butcher and a bakery, not to mention its very own ice cream brand, the award-winning Salcombe Dairy.
To buy or not to buy?
The case for: Salcombe is beautiful, lively and full of gorgeous shops and restaurants, right on the water. The case against: By mid-afternoon, a fair amount of the property here is in the shade. There's no denying that seafront houses are very expensive here and the place can get over-run with tourists in high season. Who lives here? Laid-back locals rub shoulders with upcountry millionaires and the odd celeb. Where to buy? On a budget, head high up the hill to the more low-key 80s developments where a family home costs £350,000 or even less. If money's no object, then a charming lock-and-leave cottage will cost three-quarters of a million in the town centre. Along the waterfront or over on the ferry in the hamlet of East Portlemouth, houses can cost several million pounds. Best beaches: North Sands and South Sands are both delightful and unspoilt. Hang out at: Dick and Wills brasserie for great contemporary food. The Galley is a good fish restaurant and The Winking Prawn is another well-loved eaterie. For a really fun night out, take your boat at high tide up the creek to the Millbrook Inn, a lively, fun gastro pub. Shop till you drop: Bibi sells gorgeous women's clothes, as well as good coffees and cakes. A great place to relax with the paper and meet friends. Don't forget to pop in to Salcombe Dairy, right in the town centre, for sensational ice-cream made on the premises from local cream.
