NEWS

Individual overseas ownership of Exeter property triples in ten years

350% rise greater than in Kensington & Chelsea and Westminster, increasing housing costs, reducing home ownership levels and harming housing affordability.

Martin Redfern

Individual overseas ownership of property in Exeter has risen by more than 350% over the past decade, with the number of titles registered in Jersey increasing nearly tenfold.

There has also been a significant increase in overseas ownership of Exeter property by individuals registered in Hong Kong and Singapore.

The rate of increase in Exeter is 25% greater than that across England and Wales during the period, and is greater than in areas of London where offshore ownership is concentrated, such as Kensington & Chelsea and Westminster, which has the highest number of properties owned by overseas individuals in the country.

The most recent available data, for August 2021, shows 442 Exeter property titles owned by individuals overseas. A slight fall from the previous year may be a consequence of the introduction of new rates of stamp duty for non-residents in April 2021.

In the same year a total of 492 new dwellings were built in Exeter, but this figure includes purpose built student accommodation. Excluding student and other communal accommodation, Exeter’s housing completions in 2020-21 amounted to 348 dwellings.

Overseas company ownership of property in Exeter has also increased, though not as dramatically as individual overseas ownership, rising by 175% over the fifteen years to January 2021.

This is nevertheless a much greater rate of increase than across England and Wales during the period, where the level of overseas company property ownership has remained essentially unchanged.

Jersey again dominates the Exeter data, with more than half of all overseas company-owned titles registered there. Guernsey and the Isle of Man, both also British Crown Dependencies, and the British Virgin Islands, a British Overseas Territory, also figure prominently. All four are considered to be tax havens.

Student accommodation represents a significant proportion of overseas company owned Exeter property, in the form of both purpose built student accommodation blocks and student-occupied residential property.

At least ten Exeter student blocks are owned this way, and a single company owns 53 residential addresses in EX1 and EX4 alone.

As property titles may refer to houses, commercial property or land, a single purpose built student accommodation block title can represent hundreds of student bedrooms in cluster flats and/or studio flats.

Overseas property ownership is associated with increased house prices and reduced rates of home ownership, factors which contribute to the poor housing affordability which afflicts Exeter.

The Centre for Public Data used Land Registry freedom of information requests to identify property owned by individuals and companies based overseas, extending published data on property registered to overseas companies to create a much more complete picture of the scale and significance of overseas property ownership than has been previously available.

It found that 247,016 property titles in England and Wales are registered to individuals with an overseas correspondence address.

This represents nearly 1% of all property titles, a proportion that has more than doubled since January 2010, and is more than two and a half times the 94,712 titles now registered to overseas companies.

Overseas individuals and companies combined now own about 1 in every 75 property title in England and Wales, with a similar situation in Scotland.

Subscribe to The Exeter Digest - Exeter Observer's essential free email newsletter

Your personal information will be processed and stored in accordance with our Privacy Policy

The UK Government was previously committed to introducing a public register of overseas owners of property in England & Wales, a pledge that the Prime Minister repeated in December.

However it recently scrapped the initiative in last-minute changes to a new access to information and accountability policy.

The UK Open Government Network called the decision “contemptuous” and warned that the UK could be asked to leave the Open Government Partnership because of the decision despite being a founder member of the 78 country international anti-corruption body.


Democracy doesn't work when people don't know who is deciding what on whose behalf and what the costs and consequences of those decisions will be.

Exeter Observer is proving that reader-funded media can deliver the independent public interest journalism our local democracy needs.

Upgrade to a paid Exeter Observer subscription to support our work and get access to exclusive premium content and more.

More stories
Northbrook Swimming Pool campaign demonstration Exeter Guildhall 13 May 2025

Campaigners compel Exeter City Council to reconsider Northbrook pool closure with 2,250-strong resident petition

Pressure on council intensifies after freedom of information request responses confirm £3.5 million budget cuts included potentially unlawful decision to close swimming pool without public consultation or impact assessment.

Wild camping on Dartmoor

Supreme Court rejects Dartmoor landowners’ attempt to prevent wild camping on their land

Judges unanimously dismiss appeal by Alexander and Diana Darwall against 2023 ruling upholding Dartmoor Commons Act as campaigners call for enhanced public rights to access nature pledged by Labour when still in opposition.

Child on park bench

Ofsted finds Devon County Council children’s services remain “inadequate” with rating unchanged since 2020

Inspection report highlights “serious weaknesses” that are “leaving children at risk of harm” as failings echo poor Special Educational Needs & Disabilities provision.

Mid Devon District Council headquarters at Phoenix House in Tiverton

Mid Devon District Council mischarged 2,865 social housing tenants £15.5 million in rent over twenty years

Housing regulator identifies “serious failings” in application of rent standard as council discovers dozens of evictions in which “rent arrears were the sole, or contributory factor”.

Dartmoor wildfire on 5 May 2025, photo by Devon and Somerset Fire and Rescue Service

Dartmoor National Park warns of continued high fire risk after wildfire destroys 1,230 acres of moorland

Devon and Somerset Fire and Rescue Service took nearly 24 hours to extinguish bank holiday weekend blaze that followed warning of uncontrolled moorland fire risk.

Former Firezza in Sidwell Street to become adult gaming centre

24 hour year-round Sidwell Street “adult gaming centre” allowed at appeal

Planning inspector finds no evidence that “increase in crime and disorder” or “serious detrimental impacts on the health of local residents” would result from change of use from restaurant and takeaway unit.

On Our Radar
Steve Tyler and Marco Cannavò

SATURDAY 31 MAY 2025

Love, Devotion and Harmonious Melodies

Steve Tyler and Marco Cannavò perform medieval music on historical instruments.

ST NICHOLAS PRIORY

Exeter Respect Festival

SATURDAY 7 & SUNDAY 8 JUNE 2025

Exeter Respect Festival 2025

The annual celebration of Exeter diversity returns for its 28th anniversary with live music and performance, food stalls, community and campaign groups.

BELMONT PARK

Exeter City Of Literature literary map

SUNDAY 8 JUNE 2025

The Book Market 2025

Exeter City of Literature event features independent booksellers from across the county with author talks, stalls, food and drink.

CATHEDRAL GREEN

Exeter Custom House

SUNDAY 8 JUNE 2025

Heritage Harbour Festival 2025

The maritime-themed event returns for a third year with steam boats, exhibitions, talks, live music, film screenings and more.

EXETER QUAY

Art Week Exeter 2025 graphic

MONDAY 9 TO SUNDAY 15 JUNE 2025

Art Week Exeter 2025

Festival returns with exhibitions, film screenings, talks, workshops, performances, social events and an art car boot sale.

EXETER CITY CENTRE

Pipe organ keyboard in St Mary's Church, Throwleigh by Andrew Abbott

SATURDAY 14 JUNE 2025

Lost and Found (Keyboards Revoiced)

Exeter Contemporary Sounds and Ian Summers perform works on rescued, repurposed and reimagined instruments.

EXETER LIBRARY