The Shifting Landscape of Devon’s Rental Market
The rental market in Devon has undergone significant transformation over the past year. Whether you’re a first-time renter, relocating for work, or downsizing from a larger property, understanding the current landscape is essential for making informed decisions. As a family-run letting agency with deep roots in the local community, we’ve been tracking these changes closely to help our clients navigate this evolving market.
“We’ve noticed dramatic shifts in rental patterns across South Devon since early 2025,” explains Veronica Beaver, Director of Your Home Let Devon. “What worked for renters even 12 months ago doesn’t necessarily apply today.”
Current Rental Prices: The Numbers You Need to Know
Let’s get straight to what everyone wants to know – how much will it cost to rent in this area? Recent data paints an interesting picture:
- Plymouth average rent: £949 per month (as of June 2025)
- Year-on-year increase: 5.3% from June 2024
- South West regional average: £1,181 (making Plymouth relatively affordable within the region)
- UK national average: £1,344
Breaking this down further by property type in Plymouth:
What’s particularly interesting is how smaller properties are seeing faster price growth – suggesting high demand from single professionals, couples, and those looking to minimize costs in the current economic climate.
Spotlight on Ivybridge: The Gateway to the Moors
Just a short drive from Plymouth, Ivybridge offers a different rental proposition. Known as “the gateway to the moors,” this charming town combines countryside living with good connectivity.
“Ivybridge has become increasingly popular with renters wanting to escape city prices while maintaining access to Plymouth’s amenities,” notes Rebecca Beaver, who works alongside her mother at Your Home Let Devon. “The town has its own distinct rental market with some notable differences from Plymouth.”
Key Ivybridge rental insights:
- Average rent: Typically 5-10% lower than comparable Plymouth properties
- Availability: More limited stock but faster turnover when properties do come available
- Property types: Greater proportion of houses versus flats compared to Plymouth
- New developments: Several new rental opportunities coming to market in 2025-2026
The town has seen significant investment in housing in recent years. Plymouth Community Homes recently announced 27 new affordable homes at the former Butterpark retirement home site, including specialized accommodation for residents with learning disabilities alongside social rent and shared ownership options.
Beyond the City: South Devon’s Rental Hotspots
The broader South Devon area presents a mosaic of rental opportunities, each with its own character and price points:
- Plympton & Plymstock: Popular suburbs with average rents approximately 8% higher than central Plymouth
- South Hams villages: Premium pricing (often 15-25% above Plymouth) but offering idyllic countryside settings
- Tavistock & West Devon: Slightly more affordable than Plymouth with strong rental growth predictions
“What we’re seeing is a redistribution of rental demand across the region,” explains Veronica. “Historically, Plymouth dominated the local rental market, but improved remote working capabilities have opened up opportunities in smaller towns and villages that previously weren’t viable for commuters.”
What’s Driving These Trends?
Several factors are influencing the current rental market dynamics:
- Housing supply constraints: New construction hasn’t kept pace with population growth
- Mortgage rate increases: Pushing potential buyers to remain in rental accommodation longer
- Remote working flexibility: Allowing renters to consider locations further from traditional employment centers
- University expansion: Plymouth’s growing student population creates consistent demand for smaller properties
- Tourism impact: Short-term holiday lettings removing potential long-term rental stock from the market
“The pandemic fundamentally changed how many people think about housing,” Rebecca points out. “We’re still seeing the ripple effects as priorities have shifted toward space, outdoor access, and home working capabilities.”
Navigating Today’s Rental Market: Practical Tips
For those looking to secure a rental property in this competitive market, preparation is key:
1. Get your documentation ready
Have your ID, proof of address, employment references, and previous landlord references organized before viewing properties. “The most prepared applicants often win in competitive situations,” advises Veronica.
2. Know your budget (and stick to it)
With prices rising, it’s tempting to stretch beyond your means. Remember to factor in utilities, council tax, and other living expenses when determining what you can afford.
3. Consider location trade-offs
Could you save by being one area over from your ideal location? Often, just a mile or two can make a significant difference in rental costs.
4. Act quickly on properties you like
In today’s market, hesitation can cost you your perfect home. Properties in desirable areas often receive multiple applications within hours of listing.
5. Build a relationship with a local agent
“We often know about properties before they hit the general market,” explains Rebecca. “Working with an agent who understands your needs can give you a crucial advantage.”
Looking Ahead: What’s Next for Devon’s Rental Market?
Predicting the future is always challenging, but certain trends seem likely to continue:
- Continued but moderating price growth: Expect increases of 3-5% annually for the next 12-18 months
- Increased new development: More build-to-rent schemes should gradually improve supply
- Growing importance of energy efficiency: Rising energy costs make EPC ratings increasingly relevant to tenants
- Technological integration: Virtual viewings, online applications, and digital tenancy management becoming standard
“We’re cautiously optimistic about the rental market stabilizing somewhat by mid-2026,” says Veronica. “New housing completions scheduled for late 2025 and early 2026 should help ease some of the current pressure.”
How Your Home Let Devon Can Help
As a family-run business with deep connections throughout the South Devon area, Your Home Let Devon offers a personal approach to the rental journey. Founded and led by Veronica Beaver alongside her daughter Rebecca, we combine decades of local market knowledge with genuine care for our clients.
“We understand that finding a home isn’t just a transaction – it’s a significant life decision,” says Veronica. “That’s why we take the time to truly understand what each client needs, whether they’re renting for the first time or are seasoned property veterans.”
Our team specializes in properties throughout Plymouth, Ivybridge, and the surrounding areas, providing guidance tailored to each location’s unique market conditions.
Ready to Find Your Next Home?
Whether you’re just starting your rental journey or looking to make a move in the coming months, understanding these trends gives you a valuable advantage in a competitive market.
For personalized advice about renting in Plymouth, Ivybridge, or anywhere in South Devon, contact Your Home Let Devon today. Our team, led by Veronica and Rebecca Beaver, is ready to help you navigate the current rental landscape and find a property that truly feels like home.
You can browse our available properties in Ivybridge or check out our latest rental listings across the region.
