Whenever looking for a house for sale in the UK or in Exeter, it is vital you look at the market trends and house price fluctuations in the wider area of Devon too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Exeter.
In this article, we will be looking at the city of Exeter in detail so you know how to navigate the area and have a better understanding on where to invest.
What kind of demographics does the city of Exeter have?
What’s the crime rate in Exeter?
In Exeter, for every 1000 people, there is currently a crime rate of 5400%. This can be compared to the national average of 79.52 for every 1000 people.
Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.
Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (5400% for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.
If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.
What’s a social grade score and how does it relate to Exeter?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Exeter in grades A or B which are the highest skilled roles in the country is 17%.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £38,300.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 17%.
In the city of Exeter, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Devon for example.
These demographics for Exeter may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Exeter in South West.
What is the education level like in Exeter?
In the city of Exeter, 24% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Exeter is £38,300.00. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
Is there sufficient green space in Exeter?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Exeter currently has 14 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Exeter in this case.
How much are those living in Exeter earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Exeter. Compare the area’s average household income of £38,300.00 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 17% for more conclusive data on the affluence of the area.
Is the city of Exeter deprived?
Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Exeter is £0.
In Exeter, how has the population changed?
Population growth in Exeter is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Exeter, 45664 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Exeter in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Exeter, this change has been 6%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 6%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Exeter?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 10% in Exeter.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
Thinking of a different city and perhaps a different location?
If you are looking for a list of cities that are different to the City of Exeter and in different UK region to South West. You might want to consider these as alternatives for your next real estate investment:
- aldsworth in South West
- ashford in South West
- burnley in South West
- anwoth in South West
- ascot in South West
Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.
Professional advice for houses for sale in Exeter
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
How are rental yields of the houses for sale different to the rest of the UK in Exeter?
Are there new houses being built in Exeter to make it grow?
Whenever you are thinking about looking for houses for sale in Exeter, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Exeter growth rate||5%||16%||23%|
As the population of Exeter grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Exeter this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (South West) alongside Devon then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Exeter.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Exeter||£0||£1,059||no relevant data for this city||£0|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Exeter.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (7) will be useful.
Asking price in Exeter for a house for sale
The average asking price for the houses for sale in the city of Exeter
|Average asking price (1 bed)||£165,660|
|Average asking price (2 bed)||£257,685|
|Average asking price (3 bed)||£326,118|
|Average asking price (4 bed)||£532,324|
|Average asking price (5 bed)||£715,769|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £1,735. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Exeter has a lack of supply of housing in certain categories.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Exeter determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £329,824.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Exeter.
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Exeter?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
What is the final sale price of a house in Exeter?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Exeter. In Exeter, this sale price works out to be £252,184. As an example, a factor like population growth over the last 10 years which works out to be 10% in Exeter and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£327,815|
|Average sold price (semi-detached)||£240,015|
|Average sold price (terraced)||£205,126|
|Average sold price (flat)||£149,971|
Above, the exact type of house is also shown to vary in price in a table in Exeter. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,670|
|Average sold price/sqft (new build)||£2,665|
|Average sold price/sqft (old stock)||£2,575|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Exeter which is £2,775. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.