EXETER PROPERTY MARKET UPDATE | SEPTEMBER 2026

Thu 24 Sep 2026

The Exeter property market is currently presenting a very different set of conditions to those we experienced during the exceptionally strong markets of 2020–2022.

During the pandemic and the period that followed, there was a significant imbalance between supply and demand. Buyers were often competing for a relatively limited number of properties, and well-presented homes could attract substantial levels of interest, sometimes resulting in multiple offers and sales being agreed very quickly.

Today, the market is considerably more balanced — and, in some areas and price brackets, buyers have a much greater choice of properties.

According to the latest available data, the average Exeter house price was approximately £283,000 in July 2026, 1.7% lower than a year earlier. The wider South West market has also been relatively subdued, with average prices broadly unchanged over the same period.

Rightmove's latest sold-price data for Exeter also indicates that prices over the last year have been broadly similar to the previous year and remain around 2% below the 2023 peak.

�� So what does this mean for sellers?

There is certainly still activity in the market, but buyers are behaving differently.

Rather than feeling the need to act immediately because another buyer may secure the property, purchasers are generally taking more time to compare what is available. They are looking closely at:

• Price and value for money
• Condition and presentation
• Location and surrounding amenities
• The likely cost of improvements or refurbishment
• Mortgage affordability and monthly payments
• How the property compares with competing homes currently available

This means that simply putting a property on the market and waiting for the right buyer is less likely to produce the result sellers experienced in stronger markets.

�� More choice means more competition

One of the most noticeable changes from the exceptionally strong markets of recent years is the amount of choice available to buyers.

When buyers have several properties that broadly meet their requirements, they can afford to be more selective. A property that is perceived to be overpriced, poorly presented or offering less value than competing homes can quickly lose momentum.

There is also a growing distinction between properties that are correctly positioned from the outset and those that initially enter the market at an aspirational price.

Getting the initial pricing strategy right is therefore particularly important.

The latest market data for Exeter illustrates this price sensitivity. Zoopla's 2026 analysis placed Exeter's annual house-price growth at -1.7%, with an average selling period of around 42 days and 12% of properties having had an asking-price reduction of 5% or more.

These figures demonstrate why sellers need to consider not only what their property might have achieved at the peak of the market, but what today's buyers are actually prepared to pay.

�� But it is important to put this into perspective

The current market should not be viewed simply as a lack of buyers.

Mortgage activity across the UK actually improved during 2025, with 717,519 mortgage sales, up from 617,295 in 2024 and the highest annual total since 2021. However, activity remained around 34.5% below 2006 levels, demonstrating that although the market has recovered from the weaker conditions of 2022–2023, it has not returned to the transaction volumes seen during some previous periods.

More recently, mortgage approvals have remained subdued, reflecting the continued importance of affordability for buyers.

So, while there are buyers in the market, they are generally better informed, more cautious and more value-conscious.

�� This is where experience and local knowledge become particularly important

In a market such as this, experience is key.

There is no single percentage adjustment that can be applied to every property in Exeter. Different streets, property types, price brackets and buyer demographics can behave very differently.

At Fraser & Wheeler, our local knowledge and experience of the Exeter market allow us to look beyond simply providing an asking price.

We consider:

Where your property sits within the current market.
What competing properties buyers are currently considering.
What comparable properties have actually achieved.
Who the most likely buyers are.
How the property needs to be presented to generate maximum interest.
And, importantly, how to create momentum when the property first comes to market.

Our objective is not simply to put a property on the internet and wait for enquiries.

It is to develop a carefully considered and proactive marketing strategy designed to maximise exposure, generate quality viewings and put the property in the strongest possible position to achieve a successful sale.

�� The message for Exeter sellers

The current market is active, but it is not a market where buyers will necessarily overlook overpricing or compromise on value.

Correct pricing from the outset, strong presentation, professional marketing and a proactive approach can make a significant difference.

The good news is that well-priced, well-presented and appropriately marketed properties continue to attract buyers.

For sellers considering a move, understanding the market before making that decision has never been more important.

Fraser & Wheeler

Local knowledge. Experience. A proactive approach.

�� Thinking of selling in Exeter? Get in touch with our team for an up-to-date, no-obligation discussion about the current market and how your property would be positioned today.