The real estate adviser found that house prices in the South West are set to increase by 39.7 per cent by the end of the decade, driven by strong economic growth across the region.
Adrian Owen, Head of Residential at BNP Paribas Real Estate, said: "In the South West, new homes hotspots are starting to appear in areas of under supply, particularly in more central areas, while purchaser confidence is adding to a revival of market values and fuelling bank lending in the new homes sector."
Across the UK, average house prices will rise by an average of 30 per cent over the next four years to reach £260,000 in 2019, buoyed by robust economic growth and an under supply of new homes.
The research forecast growth would be strongest in the South West (39.7 per cent), West Midlands (34.9 per cent) and South East (32.5 per cent), with the North (19 per cent) the only one of England's regions to expect a lower rise than London.
The research, UK Housing Market Prospects, predicted the improving economic climate would prompt the Bank of England to increase interest rates during 2016. However, the initial impact was likely to be "relatively modest", with the upward interest rate trajectory expected to be mild.
Simon Durkin Head of UK Research BNP Paribas Real Estate said: "We expect to see average annualised growth of 7.6 per cent a year for the UK until the end of the decade, edging ahead of the long term trend in real terms as demand continues to outstrip supply, driven by strong fundamentals and low interest rates.
"Many forecasts show benign, low-value growth but history tells us that isn't how the market behaves in reality, and expectations for different parts of the UK are far from uniform. Many of England's regions will see a stronger pace of growth than London over the next four years, partly due to their low base, but also as the benefits of economic growth extend across the country."