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While visiting the picturesque, charming town of Grasmere in the Lake District of England, I was amazed at the similarities to Nantucket:

-land council to protect open spaces giving way to stunning vistas and hiking trails throughout
-historic, well preserved village
-vibrant town with great restaurants and shops
-strict zoning and architecture boards (extremely hard to get a “new build” permit issued)
-outdoors oriented lifestyle with bodies of water being focal points
-strong sense of community and friendly people
-accessible, but takes an extra leg of travel than surrounding towns
-strong real estate market

Naturally, I asked around about the real estate market and basically got the same answer over and over, if the overall market dips, Grasmere dips last and the least and if the overall market rises, Grasmere rises first and the most.

Just like Nantucket, coupling a limited supply with a rising demand makes for a fundamentally strong market.