Exeter buy to let market defies crunch
News Category: Industry News
Published: 11-Jul-2008
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Exeter's buy to let market is withstanding the downturn noted in other towns and cities, it has been reported.
According to a report from the Exeter Express and Echo, local estate agent Wilkinson Grant accrued £9 million of sales of buy to let properties in June alone.
Among these were nine student homes which weren’t for just under £3 million, which was completed in just two days.
Company director Mr Wilkinson said: "In a market where many buyers and sellers are feeling uncertain, it's good to see that people will still see the property market as a reasonable place to put their money.
"Because the buyer was keen to purchase it - there was competition - they exchanged within two working days."
He added: "In our experience, where something is realistically priced, then there's no shortage of purchasers who are ready, willing and able to buy."
According to Exeter University, the average weekly rent for student accommodation in the town stands at £80.
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