The rental market in Devon remains strong and highly competitive as of late 2025/early 2026, characterized by high tenant demand, rising rental yields, and improved, though still limited, supply. The South West, including Devon, has experienced some of the highest rental growth in the UK.
Here is a summary of the positive rental market news in Devon:
Strong Performance and Yields
- High Yields for Investors: The South West rental market has seen yields rise to 6.0%, with consistent returns for landlords.
- Rising Rents: Rental prices have continued to climb across Devon, with average rents in the region reaching approximately £911 per calendar month. In specific areas like Exeter, average rents increased by 6.5% between 2024 and 2025.
- Strong Investment Potential: Confidence among landlords is high, with a reported 28% year-on-year increase in loans for new rental home purchases in the South West.
Location-Specific Highlights
- Exeter: The market remains robust due to a large student population and professionals relocating for work, leading to high demand in areas like St Leonards and Heavitree.
