Bristol has become a most desirable city in which to reside. The high demand for housing in Bristol over the past twelve months has inevitably lead to fewer properties on the market and ever increasing prices. Good news for property investors!
What then is in store for the rest of 2016?
A very sound return on bricks and mortar is expected throughout the country with Bristol experiencing a greater than average hike in prices. So it looks like more of the same for Bristol with house prices expected to rise by anything up to 10%.
What is it that makes Bristol so attractive to buyers?
- Well for starters with the improvement (and proposed improvements) in transportation links, especially to and from London, Bristol is now within commuting distance not only of the capital but also the rest of southern Britain including the milder more rural areas in the South West.
- Bristol is an industrious city, it attracts a lot of its workforce from the South West and tempts ever increasing numbers of Londoners to relocate.
- The city boast a number of excellently reviewed educational institutions, a huge draw for caring parents and talented students.
Other factors to consider include the often overlooked popularity of Bristol, it is a great city to live in! Terrific facilities, work and entertainment for all ages.
In 2014 The Sunday Times named Bristol as the best city in Britain to reside in, furthermore it was also awarded the EU’s European Green Capital Award in 2015. Inevitably, with such acclaim, Bristol has become a magnet for investors in a booming property market.
Another, as yet unknown factor, is the effect the up and coming EU Referendum will have on house prices. With dire warnings, from both sides, of imminent Armageddon, swarms of locus and treachery engulfing Europe, there’s understandably an air of uncertainty. This uncertainty could slow the market down, or even cause some panic selling. Who knows?
It’s worthy of note that booming house prices undoubtedly have a negative effect on those who wish to rent; house prices rise and likewise inevitably so do rents. Bristol has too many potential clients chasing too few properties. 2016 for renters may therefore not be quite so rosy.
The housing market is a fickle market; but the general consensus remains, Bristol will experience another housing boom in 2016 so if you are looking to buy or sell you are going to need a good agent.
Place your bets!