Househunter: Golant-by-Fowey, Cornwall

Anyone longing to escape to the south-west but unsure of how to make a living could turn their thoughts to wine. Hybadore in southern Cornwall, a small vineyard with a main house and outbuildings, is for sale as a going concern. It produces the St Sampson wines which have won various awards. The vineyard, which is in the estuary village of Golant- by-Fowey, is centred around a main house converted from a Victorian dairy. One wing of the house is at present let as a holiday cottage. Hybadore has about five acres under vine and produces 3,000 bottles a year as well as 3,000 bottles of cider from local apples. Golant is about three miles from the harbour town of Fowey. The guide price is pounds 350,000 to pounds 400,000 (Knight Frank in Exeter: 01392 423111).

For what it's worth

Speculative buyers have returned to central London, according to Savills, and although they may expect to see capital growth within one to five years rather than a matter of weeks, it looks as if profit motive is fuelling price increases. Yolande Barnes, of Savills Research Department, sees strong parallels with '86/87, with prime central London leading and other markets following. "Unfortunately people have very short memories and after every single slump, the comment reads that the market will never boom again." In 1990 people ditched second homes, she said, now they are buying them again.

Meanwhile, Berkeley Manhattan, launched the first phase in the redevelopment of the 1920s home of the then Metropolitan Water Board. Public service once required a status of sweeping staircases and fine detail. Bronze main doors lead into a vast marble Art Deco hall which will remain as it is. So far, 28 out of the first 43 flats have been sold with prices starting at about pounds 170,000.