NEWS: Housing demand to soar in Exeter as population set to grow
Demand for housing in Exeter – both by owner occupiers and by tenants – is likely to rise sharply in the long term according to new figures showing likely population growth.
Durham University, regarded as a leading authority on demographics, says Exeter’s population of just over 127,000 today is likely to rise to almost 135,500 in 2026 and then go on to become over 143,000 by 2036.
This growth is because of lengthening life expectancy, a higher-than-average birthrate (Exeter residents are on average 38.1 years old – much younger than Devon as a whole) and continuing inward migration to the city from the rest of the UK and abroad.
The university says that to accommodate the extra population, 8,000 new homes will have to be built within Exeter in the next 20 years – but it points out that, as yet, there appears to be far fewer sites identified for such a large building programme.
These figures suggest increased demand for homes to buy and to rent over the long-term.