The nearby Jurassic Coast is also a place to watch. When the area became the only natural site in Britain to be granted World Heritage status five years ago, agents expected prices there to start moving upwards. It was a poor call. The rises have instead been far more modest, making it the ideal destination for those in search of stunning views and some of the best sailing in Europe.

But why confine your search to the Dorset coast? There are plenty of places to catch your fancy — such as Shaftesbury. If you think the town looks familiar, that is because its cobbled Gold Hill was where the famous Hovis television advertisement was filmed.

The area remains relatively undervalued, though, because at two hours by road or rail from London it is too far for all but masochistic daily commuters.

Somerset, too, has its charms. While brash Weston-super-Mare — whose name will be forever linked with that of its most infamous son, Jeffrey Archer — is not to everyone’s taste, Clevedon, eight miles along the coast, is an unspoilt Victorian seaside town with a pier and on a clear day, stunning views to Wales.

Moving to south Devon, nobody could accuse Salcombe, an achingly fashionable estuary town in the South Hams, of being undiscovered. Count on paying £400,000 for a pretty thatched cottage, up to £1m for a three-bed flat with harbour views, or £4m for a four-bed Victorian rectory. Prices elsewhere on the coast are lower — but not by much if you want a waterfront position.

Your money goes much further in north Devon, however. It may be a little blustery, but seaside towns such as Lynmouth, Clovelly and Westward Ho!, for example, still offer chocolate-box cottages at surprisingly low cost. Prices start at £180,000 for a two-bed flat in a coastal village such as Woolacombe; a family house with large garden can be had for less than £500,000.

Move slightly inland and the prices become even more reasonable: places such as Okehampton, Holbeton and Hatherleigh are packed with converted farmhouses, barns and long houses. It should still be possible to get a thatched cottage for less than £200,000 in any of the pretty villages running off the A30.

Even parts of much-hyped Cornwall have potential for more growth. Padstow, naturally enough, is already pricey: an unremarkable, if well located, four- bedroom house on its high street is on the market for £750,000.

But what about Newquay? The opening this Friday of celebrity chef Jamie Oliver’s latest restaurant, Fifteen Cornwall, on the beach at picturesque Watergate Bay, two miles from Newquay airport, has reportedly had an effect on the property market, with two developments selling out immediately. Local agents claim, perhaps a little optimistically, that the “Oliver effect” has already added £50,000 to prices.

The stretch of south coast from Torpoint and Crafthole towards Looe offers far more reasonably priced sea views. Truro is worth a look, too: the opening this month of a branch of Savills, the upmarket estate agency, reflects growing interest in its Georgian houses.

Wherever you choose in the southwest, the market looks set to remain buoyant, thanks to the relentless influx of an assorted band of retirees, downsizers and teleworkers, drawn by the mild climate, spectacular scenery — and, increasingly, the surfing.

The number of households in the southwest has grown 3.9% since 2001, says the Office of National Statistics, well ahead of the UK average of 2.1%, and is expected to keep rising: a study released late last year by the now-defunct Office of the Deputy Prime Minister predicted a further rise of 16% by 2021, a growth rate exceeded in Britain only by London.

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