A diverse city such as Exeter gives rise to a number of investment options too. There have been a large number of new houses built here over the last decade, including developments at The Rydons and Cranbrook and these are always popular with tenants. There’s a solid Victorian Terrace market – the staple rental territory of many UK towns. Equally, we have a number of areas of ex-local Authority properties which offer high yields and enjoy constant tenant demand.
The future of the Exeter property market
There are many reasons why people see buy-to-let as a good medium term investment option. There is a shortage of housing nationally and unless we start building on an extensive scale, it’s only going to get worse.
People’s lifestyles are changing and more people are now living alone, or in smaller family units, which adds to this demand. Pensions don’t seem to be delivering as they used to, so people are looking for other ways to fund their later life. It seems inevitable that as time goes on, the taxman will show a greater interest in buy-to-let, but that doesn't stop an increasing number of people ploughing in on a monthly basis.
There are many reasons why the long term demographics of Exeter make buy-to-let investment here an attractive option. The city is large, established, and conveniently situated as a hub for the South West.
There are excellent respected employers here too, the Met Office, Exeter Royal Devon & Exeter hospital, South West Water and Exeter University to name just a few. The schools, especially St James, St Luke’s, Isca and Clyst Heath Primary are huge magnets to the city and people shouldn't underestimate the importance of them.
Prices are pretty competitive as well. Two bed houses are the bread and butter of any rental market, and these range from about £130k in one of the cheaper areas of town, to £180k in one of the nicer new areas. For £160k to £200k you'll get something very rentable in an area you feel comfortable with.
In short ... the long term prospects for Exeter look very good, although as there are no guarantees, it is certainly worth coming to see us to get advice on the best areas for you to buy.