Property boom in Exeter

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by Kay Murchie

The regeneration of Exeter has resulted in high demand for new apartments and according to Fulfords estate agency, Exeter is now a popular place to live and work.

Exeter’s city centre was, until recently, a scruffy unknown, the cathedral was ignored and no one lived in town any more. However, the relocation of the Met Office’s from Bracknell in 2004 marked a change in the city’s fate.

Several well-paid weather men and women flooded in and the town woke up. Thousands of other newcomers have followed suit. EDF, the electricity supplier EDF has also set up here and quality properties are in demand.

In addition, the growing university is to expand further over the next 5 years and a much-improved international airport.

Fulfords said that this area used to appeal to retirees but now it’s attracting all ages, many Europeans are settling here too.

Knight Frank estate agents said that prospective buyers are queuing for over a week to purchase apartments in the first phase, some even camping out. Prices for some of the apartments have set a new record for Exeter, with an average of £260 to £350 per sq ft.

Knight Frank is currently marketing 63 one and two-bedroom apartments ranging from £140,000 to £425,000. The range of restaurants and bars is no doubt an attraction in addition to the many new independent shops.