Exeter - What Is It's Secret?

[swissy_fit]

Have spent a few weekends in Exeter recently.

The shops, restaurants and bars are packed.

Someone told me the unemployment rate is 2%.

House prices are high and show no signs of dropping, indeed in the area where I've been "looking" everything goes SSTC very quickly.

No sign whatsoever of any economic difficulty, that's for sure.

Where is all the money coming from?

In Exeter there's the university with lots of students from wealthy backgrounds and, er, what else?

Edited November 29, 2011 by swissy_fit

[Si1]

the Met Office, but not sure it employs that many, well paid tho'

[Hold Fast]

the Met Office, but not sure it employs that many, well paid tho'

True, even better if you are a contractor as a quick look on Jobserve will show.

[plummet expert]

True, even better if you are a contractor as a quick look on Jobserve will show.

It is always true that economic stress is uneven. Other areas around Exeter may be feeling worse, but it can mean it gives strength to a nearby area. Ie if your competition goes bust it may mean more work for you. Take a look at Margate here http://www.guardian.co.uk/business/2011/sep/08/high-streets-struggle-shoppers-curb-spending and then compare it to Canterbury, a short drive away where the centre is more like the Exeter you describe.

[Normski]

Exactly the same in Cheltenham. There's wealth everywhere.

Town is always buzzing, pubs always rammed.

My boys (private) school is full and is oversubscribed even for unborns! The car park there is rammed with £50K motors (and our £150 Subaru). Same story with the towns other independents.

House prices have not dipped, some areas have houses that stick for months but in popular areas such as Charlton Kings or Leckhampton the For Sale boards become Sold boards within days.

I know lots of people that are doing very well, very few that are struggling.

The recession has yet to kick in around here!

[Conquistador]

Exeter is one of the most affluent large towns in the southwest, so it will seem relatively shielded. As others have said, the economy is skewed by a quasi-public sector elite within the University (and its students) and the Met Office, without which I think things would seem a lot more threadbare. 2012 will be worse, as economic sh*t increasingly hits the fan, but it will be looking better than Plymouth.

Some large (15-20%) drops on large houses in my immediate area of Exeter, although admittedly the 'cheaper' stuff seems to be selling surprisingly quickly.

[InlikeFlynn]

Have spent a few weekends in Exeter recently..............................

House prices are high and show no signs of dropping, indeed in the area where I've been "looking" everything goes SSTC very quickly..........................

Where is all the money coming from?

London (and environs)

Prices falls in the west country will really accelerate if last month's land registry figures for London (-1.6%) turn out to be the start of something.

[porca misèria]

Looking from here. Exeter is where southeast England starts. Including the economy and houses.

Even the trains think so. Apart from having fast lines to London and Bristol/Brum/etc, you can use a south-east railcard from there! Whereas west of Exeter is out in the sticks, and even down-at-heel Plimuff has only that slow meandering connection.

[Vagabond]

Exactly the same in Cheltenham. There's wealth everywhere.

Cheltenham always did have money floating around. Having said that, its Xmas, so the really big story isn't that places like this are busy, it would be where they're not busy.