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Exeter is a suburb on the Le Fevre Peninsula, bounded by the Port River and the sea with many character filled, period homes.
The houses are generally on large blocks of land, built from stone and brick, and are reasonable in size, generally villa style homes.
The up and coming trendy café strip along Semaphore Rd runs through the middle of Exeter and is a favourite meeting place for the many bohemian people that live in the surrounding areas.
Exeter is well serviced by the many shops along Semaphore Rd. These range from small ice creameries and cafes to supermarkets and hotels. There is also a classic old fashioned suburban cinema in Semaphore Rd. It is well serviced by two train stations on the Outer Harbour line, Glanville and Peterhead stations.
Why you should buy here
- Less than 1km to the beach
- Many redevelopment opportunities. In most parts of Exeter you only need a minimum 250 square metres for each new allotment and there are no street frontage restrictions.
- With many historical properties in the area, opportunities to add value through renovating are plentiful. This has already started to occur and will accelerate as the interest in neighbouring Newport Quays builds momentum.
The key drivers of capital growth in Exeter are its proximity to the beach, Semaphore and the increasing infrastructure at Newport Quays. This redevelopment of an old port will add value to suburbs that surround it. Investors can “piggy back” on the vast improvement to the port and make money in areas immediately adjacent. The ripple effect from this redevelopment will help drive prices up in this suburb as it is also full of character homes and the up and coming “Eat Street” of Semaphore Rd.
Areas to focus on
The closer you are to Newport Quays and Semaphore Rd, the better off you will be.
Areas to avoid
Avoid purchasing along the railway line.
These streets include Causeway Rd, Teakle St, Wellington St and the eastern section of Tracy St. Be aware of the properties in the Exeter Historic (Conservation) Policy area.
There are restrictions regarding what you are able to do with these properties so far as renovating and developing are concerned.
Happy House Hunting!
Written by Peter Koulizos, university lecturer, author and buyers advocate.
