Bristol is a city that investors are discovering. Much of Bristol’s economy is based on creative media and it even has its own currency (the Bristol pound).
It’s a city lauded too, domestically and globally as it was named as the best city to live in Britain by The Sunday Times in two of the last five years and it even won the EU’s European Green Capital Award in 2015.
The city is booming and property prices are on an upward trajectory, with two expanding universities and a growing population, we think investors would do well to look closely at Bristol.
So, what about property prices in Bristol?
Again it depends on your perspective.
Property sells just below the national average which has just edged past £300,000, but like any major town or city, there are property microclimates.
The majority of sales in Bristol during the last year were terraced properties, selling for an average price of £293,434. Flats sold for an average of £245,450, with semi-detached properties fetching £326,480.
Overall, sold prices in Bristol during the last year were 6% up on the previous year and 20% up on the 2015 level of £255,582.
The capital growth rate of 20% in under three years is impressive and the Sourced team believe Bristol can produce high yields in the future.
Clifton, many would argue, is the cream of Bristol’s suburbs. Cliftonwood and Hotwells are part of the ward too and its streets are lined with majestic properties that command a premium. Period terraced properties there can command prices in excess of £750,000 with an average sold price 35% higher than the whole city.
There’s two other areas though that should be on your investment radar: St Pauls which is unrecognisable from its notorious past in the 1980s and nearby Stokes Croft, which are more affordable than bijou Montpelier and the aforementioned Clifton.
These areas are attracting huge investment and regeneration with students choosing to remain in Bristol after graduating and London professionals moving in for the creative media industry (and lower house prices).
We are currently on the look out to expand our network into Bristol. Interested in working in the property industry? Get in touch today to find out more.