Salcombe feels bite of "City" bonuses.

As if by magic there was an article on "Times Online" yesterday outlining exactly my last post!

Apparently the huge reduction in city bonuses expected this year, down from £5.5 billion to £2 billion (a 60% fall) is hitting the property market of trendy seaside towns like Salcombe, nicknamed "the red trouser belt", very hard...

Over the past 10 years the average house price rise in these seaside towns is a staggering 287%!

The Times goes on to say:

"Top-performing towns in the red trouser belt are seaside resorts, such as Padstow and Rock in Cornwall and Salcombe in Devon, that are within a four-hour drive for a Friday night commute, typically made by City husbands visiting families left in the holiday home for much of the long summer holidays. The areas have also earned some notoriety by attracting hordes of underage drinkers from public schools."

I think the under age drinking tag that they have given Salcombe is a bit unfair, it's nothing like it was in the summers when I was growing up there and the average age in The Ferry was 15 & the average number of pints of "Tally Ho" consumed was also 15!!! Good old Bob.....