Newton Abbot is to permanently host the country's second largest horse and pony sales at its livestock market.

The move could pump hundreds of thousands of pounds into the economy and raise the area's profile among an affluent group of potential holidaymakers.

Sawdye and Harris has announced that from Tuesday its monthly auctions are to transfer from Exeter, and coming with it will be buyers and sellers from across Britain.

In the past four years the firm has built the ailing Matford Park business to the point where more than 120 beasts can go under the hammer each month at prices of up to £4,000.