Why Invest in Devon?
Devon is one of the most desirable locations in the UK, offering stunning coastal scenery, thriving market towns, and a strong rental market. For those looking to make a smart property investment, identifying the best places to live in Devon can make a significant difference in returns. With an increasing demand for homes in the region, investors are seeing excellent opportunities in both short-term lets and long-term rentals.
Exeter: A Thriving City with Strong Demand
As the county’s capital, Exeter is a prime location for property investment. It boasts excellent transport links, a thriving university, and a growing tech sector. These factors contribute to a strong rental market, particularly for student accommodation and young professionals. House prices have seen steady appreciation, making Exeter one of the most attractive options for investors looking for long-term growth.
Plymouth: A Coastal City with Development Potential
Plymouth, another major city in Devon, offers affordability compared to other areas in the county. Ongoing regeneration projects, such as the redevelopment of the waterfront and improved infrastructure, are increasing its appeal to both renters and homeowners. Investors looking for affordable buy-to-let properties with strong rental yields may find Plymouth an excellent choice.
Torquay: The English Riviera’s Investment Hotspot
Part of the picturesque English Riviera, Torquay has long been a popular tourist destination. Its thriving hospitality industry makes it a lucrative area for short-term holiday lets. Additionally, property prices are still relatively affordable compared to other coastal hotspots, making it a great option for investors who want to capitalise on the demand for holiday rentals.
Barnstaple: The Gateway to North Devon
Barnstaple is a thriving market town with a strong local economy and growing infrastructure. Its appeal lies in its proximity to the stunning North Devon coastline and Exmoor National Park. As more remote workers and families look to move to less urbanised areas, Barnstaple has seen increased demand for housing, presenting a great opportunity for long-term investment.
Exmouth: A Coastal Gem with High Rental Demand
Exmouth, located along Devon’s south coast, is increasingly popular with commuters to Exeter and retirees looking for seaside living. The strong demand for rental properties, combined with its scenic coastline and access to transport links, makes Exmouth an appealing option for property investors. With steady growth in house prices, it offers both capital appreciation and reliable rental yields.
Newton Abbot: A Commuter-Friendly Market Town
Newton Abbot is an excellent choice for investors looking for properties that appeal to both commuters and families. With direct train links to Exeter, Plymouth, and even London, this market town offers accessibility and affordability. Its strong local economy and demand for family homes make it a solid investment choice.
Sidmouth: A Premium Market with Luxury Potential
For those interested in high-end property investment, Sidmouth offers a premium market with strong appeal to retirees and second-home buyers. Its beautiful coastline, relaxed atmosphere, and quality amenities attract buyers looking for exclusive properties. While house prices are higher, the potential for strong capital growth and high rental demand makes Sidmouth a worthwhile investment.
Tiverton: A Rural Location with Growth Potential
Tiverton, located in Mid Devon, offers affordability and space, making it a strong contender for those seeking growth potential. As demand for rural properties increases, Tiverton presents an opportunity for investors to acquire homes at lower prices while benefiting from future price appreciation.
Conclusion
Devon’s property market presents a range of investment opportunities, from bustling cities to tranquil coastal towns. Whether you’re looking for student lets in Exeter, holiday rentals in Torquay, or long-term family homes in Newton Abbot, identifying the best places to live in Devon for investment is key to maximising returns. As demand for property in the county continues to rise, investors who act now could see significant gains in the years ahead.
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