The space is near the beach

The freehold site in The Stennack, measuring 11ft by 6ft (3.4m x 1.8m), is a short stroll from the town's beaches.

House prices in some parts of the picturesque town have reflected substantial rises in the West Country.

In one road prices average more than �550,000 and estate agents were not surprised at the price for a car park.

'Small potatoes'

Local agent Chris Wood, vice president of the National Association of Estate Agents, said: "If you can park your car you have an awful lot more freedom.

"You are not reliant on public transport which we all know is virtually non-existent down here.

"In any of the cities around the country short of parking spaces, they go for an awful lot more than that, up to hundreds of thousands of pounds in some parts of London, so this is small potatoes."

He said that a house price crash was unlikely.

"While most people expected a dip, it just has not happened. At the moment there are no signs that it will burst.

"Housing is still seen as a good investment by an awful lot of people."