Rents are on the rise

Exeter rents have picked up considerably since the start of the pandemic, rising by around 5% by the end of 2020 and a further 10%+ by the end of 2021.

According to home.co.uk the average rent for houses within 5 miles of the centre of  Exeter – as of 11^th January 2022 – is £1,131 pcm and for flats £834 pcm – a rise of 10.9% in the last 12 months. The central higher value addresses do, of course, yield higher rents (for more specific detail see below*)

With Exeter house prices having risen so dramatically over this time, making it more challenging for first-time buyers to get onto the property ladder at a time when more people are looking to relocate to the South West, tenant demand will continue to increase. The stock shortages currently experienced in the Exeter home seller market will inevitably prevail in the local rental market and this heavy  increased demand and shortage of supply will see rents continue to rise.

What does the rise in prices and rent mean for Exeter landlords and property investors?

Exeter, with one of the country’s fastest growing city economies,  is now widely-regarded as one of the best places to live in the UK. As more affluent, property-savvy tenants search for a quality home to rent here, the better properties in the more favoured locations will be in high demand. As a result many will be happy to pay a premium for a well-managed, hassle-free tenancy.

Increasingly, some private investors may settle for a slightly lower yield than other landlords might have previously enjoyed – taking comfort in the perceived security of investing in a sustainable property hot-spot where capital values look set to rise further.

A note of caution

Forecasts can be useful to help understand what might happen in the property market  — but it is important to remember that any “forecasts “ are just predictions. Regardless of what analysts and journalists might be saying, there are always individual ‘deals’ to be done – and that’s where specialist advice from local experts can help steer you in the right direction.

With supply and demand so specific to an area, simply buying any property in any address is not necessarily going to result in a successful investment.  Unless you plan carefully and take expert advice, it’s all too easy to end up with something that will end up costing you money, rather than growing your wealth.

Like any financial venture, the property investment market will naturally rise and fall over time, but for those who can invest over the longer term, having residential property as part of an overall  investment strategy can really help deliver sound financial rewards.

Exeter Market Rent Summary as at 11/2/2022

Rental price analysis for Exeter summarises the advertised rents for homes to let, calculated daily from the rental properties found by the Home.co.uk Property Search Engine

Summary of Properties for Rent in Exeter

Total properties for rent in Exeter: 158
Properties for rent in Exeter listed in the last 14 days: 59
Average* property rents in Exeter: £1,368 pcm

Properties for Rent in Exeter by Price

Property Rents in Exeter by Number of Bedrooms

Property Rents in Exeter by Type

Note: The current rents for Exeter were calculated by sampling over all properties for rent in the Home.co.uk property search within 5 miles of the centre of Exeter. For further details see here.

Are you keen to get into the Exeter Buy-to-Let market or expand your current portfolio but don’t feel you have the time, experience or in-depth knowledge to look for the right property?

Our popular Buy-to-Let search and acquisition service offers our clients an opportunity to discuss objectives and budget and we will help you source and acquire the right investment property to meet your needs.

For more details contact Kayley Stoneman:
k.stoneman@wilkinsongrant.co.uk or call 01392 455920