Exeter Buy-to-Let Guide

The average cost for a rental property for sale in Exeter is £322,976, according to HM Land Registry’s UK House Price Index. The area has seen a decline in price growth of 1.50 %.

Regarding different property types, property investors can expect to pay the following:

• Detached houses: £594,814
• Semi-detached houses: £369,761.
• Terraced houses: £303,713
• Flats and maisonettes: £184,185

The national average property price is £291,044, with an annual growth of 0.20%.

According to Rightmove, the most popular property in Exeter is terraced housing.

Learn more about how to get started as an investor with our updated property investment guide or take a look at some of the best places to buy airbnb property uk wide.

Please note: Property prices are found on Rightmove. Rental yields are calculated from information on housesforsaletorent.co.uk.

St Davids

St Davids is a city centre area between the River Exe, Western Way and St Davids train station. Expect to find all the usual city centre amenities and eateries. The area is served by bus and train. Commuters can reach London Paddington within two hours from St Davids.

Most houses lie on the outskirts. Modern apartments and student housing are found near St Davids station. Traditional-style investment properties for sale– such as Edwardian terraces – are popular.

The University of Exeter is in this part of town, with flats being the most popular property type in this postcode.

Average Property Price in St David’s

The average property price in this area is £348,119.

Average Rental Yield in St David’s

The average rental yield in St David’s is 4.7%.

St Leonards is a sought-after area close to the city centre with plenty of Georgian properties, artisanal shops and eateries, good schools and a peaceful vibe. The area was voted as one of the best places to live in Devon by Muddy Stilettos.

Average Property Price in St Leonards

The average property price in St Leonards is £375,032.

Average Rental Yield in St Leonards

The average rental yield in St Leonards is 4.45%.

Pennsylvania (not to be confused with the American state of the same name) is north of St Leonards and offers lovely views of the city and countryside. There are many rural properties, including period houses and detached homes. In the northern parts of Pennsylvania, you can find some newer properties.

Average Property Price in Pennsylvania

The average property price here is £460,020.

Average Rental Yield in Pennslyvania

The average rental yield in Pennsylvania is 3.68%.

Across the country, there is a supply-demand imbalance when it comes to available rental homes, which has led to a call for more new-build developments. Exeter is no exception, with the local council and private developers working to fill this gap.

The Corporate Plan 2022-2026 aims to boost housing in the area and build “great neighbourhoods and communities.” It will include eight sites across the city, including Water Lane and St. David’s, and will deliver 12,000 new-build homes to existing brownfield sites.

As these regeneration schemes bring more attention to Exeter and enhance the attractiveness of these areas, private developers may start bringing more new-build developments to the city. For example, the same can be said of other nearby cities, leading to more interest in new-builds in Eastbourne.

However, as it stands now, most developers target more major cities such as London and Manchester for new build investment opportunities.

As aforementioned, Exeter has higher property prices and lower rental yields compared to the national average. While the area has good quality jobs and is an attractive place to live for many potential tenants, there may be better buy-to-let decisions than this one if you are looking to maximise returns.

In the UK, properties in the north are usually better value – they also boast substantial yields in some areas.

Buy-to-let property in Liverpool, for example, typically sees an average property price of £180,268 and rental yields that exceed 7% in some postcodes. Liverpool also has more students than Exeter and a good graduate retention rate, indicating that the city is a desirable place for people to live.

Delve further into the North West buy-to-let market with RWinvest’s guide to available investment property in Warrington!