Exeter is one of Britain’s smallest cities. It is well known both as a university town with a beautiful Norman cathedral built in the twelfth century, and as the capital of the South West.
With Devon and Cornwall right on the doorstep along with stunning countryside and easy access to the coast, Exeter has always been a popular place to live, and to visit. It has also been voted as the fourth happiest place to live and as first place for neighbourliness so it’s clearly a desirable location for investors and renters alike. Exeter is very hilly and is spread out around the Exe estuary. There are restaurants and theatres aplenty and even an art house cinema for those looking for a bit of culture.
Exeter is one of the more expensive places to live but given that the university attracts numerous high calibre students, it can still be a good bet for investors looking to buy to let in the area. According to one website, a big advantage for investors in Exeter is that the university cannot house all its students. In fact, each year over half of the student population struggles to find accommodation. This points to a very healthy prospect for buy-to-let investors.
So where should you invest your money?
Cranbrook is a brand new development in Exeter, which might just prove a draw for investors looking to make a longterm investment. Along with a plethora of new housing, there is also an expansion project concerning Exeter airport and a new supermarket distribution centre and early signs are looking good. A recent survey of residents shows that they are happy with they way the new town is growing – so lots of positive signs coming from this new neighbourhood.
Wonford is a smart choice for investors. It’s an ex-local authority area which means housing stock is on the lower end of the price spectrum and it’s also very close to the hospital so can attract staff looking to rent before investing in their own property. It has become very popular with young families thanks to the relatively lower property prices and a few good schools.
Exwick has a mix of areas that are considered both good and bad. It is situated on the outskirts of the city, which some people prefer. It’s also got comparatively high numbers of renters rather than homeowners making the area a good bet for potential investors.
In summary, Exeter is a tiny city with a lot going for it. Close to all the clotted cream and jam you could dream of, as well as its convenient position close to areas of outstanding natural beauty and the coast, Exeter is a great bet for city dwellers who crave the natural world. With a very popular university, hospitals and a lot of development and investment, Exeter really is moving far away from its sleepy reputation. If you are looking to invest in property in the Devon and Cornwall region, you’d do a lot worse than to check out everything Exeter has to offer. As ever, make sure you do your ground research before you make any financial commitment.