A Shifting Rental Market Across Devon
There’s no doubt about it: 2025 is shaping up to be an intriguing year for Devon’s rental landscape. Gone are the double-digit annual rises that left tenants reeling and landlords scrambling to keep pace with unprecedented demand. While the national scene points to a cooling trend in rent growth, Devon is revealing a much more localised—and nuanced—story.
Whether you’re a seasoned landlord, a new investor, or an anxious tenant, understanding what’s happening in your corner of the county is key. At Your Home Let Devon—proudly led by Director Veronica Beaver and her daughter Rebecca Beaver as part of our family-run approach—we’ve taken a closer look at what these changes mean for everyone living, letting, and loving life in Devon.
The Current Pulse: Devon’s Rental Numbers in 2025
Let’s start with the stats that matter. Mid Devon has seen average rents rise by 4.1% year-on-year, sitting at £858 per month in June 2025, up from £824 in June 2024. That’s a more measured pace than the national average, and a world away from the speedier surges of previous years. It’s an encouraging sign for those worried about affordability and market volatility.
But just down the road, North Devon is telling a different tale: a surge of 7.0% in private rents year-on-year as of May 2025. Meanwhile, the overall need for housing—reflected by 18,677 households currently on the Devon Home Choice register—remains high, though with clear ups and downs across districts.
Key Takeaway: Devon isn’t one big, uniform market. Pinpointing local shifts is crucial for making the right move, whether you’re letting or renting.
The Patchwork Picture: Regional Hotspots and Cool-Offs
The story varies dramatically depending on where the pin drops on the map:
- North Devon: Still seeing robust rent rises—great news for landlords with established portfolios but raising further affordability questions for tenants.
- Mid Devon: Showing more modest increases and a steadier pace, offering tenants a breather but signalling tighter margins for landlords.
- Torbay & Teignbridge: Experiencing renewed demand and upward pressure, likely due to their appeal with both working families and remote professionals.
- Torridge, South Hams, and West Devon: Experiencing a drop in demand, hinting at potential opportunities for tenants and investors seeking stability.
This means that investing decisions and rental strategies now need to be driven by hyper-local knowledge. The days when you could assume uniformly rising rents across the county are gone. Knowing your neighbourhood, school catchment, and transport links might be more important than ever.
Property Types and What They Mean for Your Bottom Line
It’s not just about ‘where’—but also about ‘what’. Here’s the lowdown for Mid Devon, as it neatly represents the range across the county:
- Detached houses: Average £1,149 per month
- Semi-detached: £924
- Terraced: £843
- Flats & Maisonettes: £696
When it comes to space:
- Four or more bedrooms: An impressive average of £1,431.
- Three bedrooms: £972.
- Two bedrooms: £791.
- One bedroom: £625.
Trend to Watch: The strongest rise in rent this year was seen in flats/maisonettes (up 4.5%), suggesting increasing demand for more affordable or ‘right-sized’ homes among tenants—perfect for singles, couples, or downsizers.
For Landlords: Opportunity or Challenge?
Slowing rent growth doesn’t mean doom and gloom for Devon’s landlords—but it does demand agility and sharper focus. Here’s what Veronica Beaver and the team at Your Home Let Devon are advising:
1. Get Strategic with Portfolio Location
Now’s the time to check in on your property mix. Areas like North Devon are still showing above-average increases, but if your holdings are in the likes of Torridge or South Hams, you might face stiffer competition for tenants. A professional valuation and local data review can make all the difference.
2. Optimise for Demand
If you’re considering upgrades, now might be the moment to invest in energy efficiency or flexible living spaces to attract a wider tenant pool—these have become more than just ‘nice-to-haves’ as renters weigh costs and value.
3. Stay Ahead with Market Intelligence
With the landscape more fragmented, it pays to stay plugged in to local trends. Our team (including Director Veronica Beaver and daughter Rebecca) is on the ground daily, ensuring clients aren’t caught by surprise market turns. By working with a family-run agency rooted in Devon, you’re tapping into real-life, real-time insight.
Want a specific update for your property or area? Get in touch via our Contact page, or check our latest listings here.
For Tenants: More Breathing Room (But Mind the Hotspots)
Tenants across much of Devon are seeing some relief as rental increases cool off. In Mid Devon, the 4.1% rise is still significant but no longer outpacing regular wage growth as dramatically. For anyone renting in North Devon, however, those 7% jumps remain very real.
Social Housing: A Slower Climb
Social tenants in Mid Devon benefited most, with rents only rising 2.7% this year—down from 7.7% last year. This aligns with government efforts to cap increases and maintain affordability for vulnerable groups.
Affordability is Still Local
Remember, the cost for a one-bedroom might be £625 in Mid Devon, but larger homes—especially in sought-after areas—are still fast-moving and command premium rents. Flexibility and quick decision-making (plus having your paperwork ready!) can make a big difference.
We regularly update our available homes. Browse our properties to let or sign up for early alerts.
Why Local, Family-Run Matters Even More in 2025
With big agency buyouts making headlines, Devon’s property market is beginning to feel more like London or Manchester. But in our part of the world, local insight and genuine relationships still rule the day.
At Your Home Let Devon, Director Veronica Beaver and her daughter Rebecca have kept our team small, agile, and accessible. We know the people behind the properties, and we’re committed to match-making—not just transactions.
Why work with us?
- Rapid, honest communication
- Personalised service for both landlords and tenants
- Up-to-the-minute insight on your patch
Find out more about our team and approach here.
The Market Outlook: Balance, Not Boom or Bust
Looking ahead, most commentators expect Devon’s rental market to remain steadier and more sustainable than the wild rides of previous years. Expect moderate rises, more local variation, and a greater focus on service, tenant quality, and careful property management.
Housing demand is going nowhere—18,677 households can’t be wrong—but where and how people want to live is shifting. Investors and tenants alike will benefit from a deeper, more localised understanding of what’s out there, what’s in demand, and how best to navigate the new normal.
If you want tailored advice—whether you’re looking to invest, let, or find your next home in Devon—our family team is ready for a chat. Drop us a line or explore our latest property news.
At Your Home Let Devon, we’re not just letting agents—we’re neighbours, and we’re here to help your property journey in 2025 be smooth, informed, and successful.
