A city that is innovative, artsy and green, new property for sale in Bristol offers strong investment prospects due to the city’s growing population, increasing rental demand, rising house prices and upcoming regeneration projects.
Bristol is known for its harbour, the iconic Clifton Suspension Bridge and the Bristol International Balloon Fiesta held every year. It’s a place where rich history, thriving arts and culture scenes and quirkiness meet with beautiful countryside within easy reach.
It’s an extremely liveable place with a range of green spaces, parks, walking and cycling routes and has even been named one of the most eco-friendly cities in the UK. In addition, Bristol has colourful street art dotted around the city, including numerous murals by the world-famous artist Banksy.
As a university city featuring a student population of around 50,000, Bristol is home to The University of Bristol and the University of the West of England. This brings thousands of students to the city, and many even remain after graduation.
On top of that, Bristol has strong employment prospects and a growing tech hub, attracting even more people to the city. A number of high-net worth companies within a range of industries are based in Bristol, including Airbus, Rolls-Royce and Hargreaves Lansdown.
Bristol has a strong economy that is growing fast. And more investment is coming to the city, which is supporting and will continue to support the area’s growth. About £1bn has been earmarked for a range of projects and upgrades throughout Bristol in the coming years.
There are plans to revitalise Bristol’s Western Harbour with a £450m scheme including riverside housing and infrastructure. Temple Quarter is another area slated for regeneration with a host of academic buildings for the University of Bristol and residential developments.
In the heart of the Temple Quarter, Temple Meads station is part of a £5bn project to upgrade railways, which will cut journey times to London and increase service frequency by about 50%.
These projects are contributing to Bristol’s thriving development, which is further making the city an appealing place to invest in property. Finding the right investment location near exciting redevelopment and regeneration projects could bring strong returns for investors in the years to come.
As the most populated city in the South West and one of the 10 ‘Core Cities’ in Great Britain, Bristol is a top UK property investment hotspot.
The city’s current population is estimated to be around 465,000. And the local authorities project that the population will reach just under half a million by 2029. This shows the increasing need for more housing in and around Bristol.
As an attractive location for both students and professionals, Bristol has a large and growing population of potential tenants. A young demographic continues to flock to the city, which boasts a cool and trendy allure that’s hard to replicate.
Bristol has often been considered one of the UK’s top university cities to invest in. This area in the South West even has some of the strongest demand for rental property in the country. And both rent and house prices are on the rise.
The average property price in Bristol is £348,543, according to data from Land Registry. With a blend of architecture, there is a range of houses and apartments across the city. In particular, a number of contemporary new builds are being brought forward to keep up with the growing demand for housing.
Bristol was named the best UK city for buy-to-let investment by Aldermore’s latest Buy to Let City Tracker. The city has seen strong house price growth in recent years and is home to a high proportion of renters, creating a large pool of tenants that investors can choose from.
Since 2010, the average property price in Bristol has increased by a whopping £136,282. Throughout the past decade, house prices increased by an average of 5.1% every year, providing impressive capital gain opportunities for property investors.
Bristol is also one of the best UK cities in terms of rental demand. About 27% of residents are estimated to be privately renting, while only 0.6% of housing stock has been left vacant on average over the last year. And the average rental yield for investors in Bristol equates to 4.6%.
These figures show the huge investment prospects for Bristol. And the future only looks stronger. Property prices and rental demand are set to increase even further as more businesses, people and investment come to the city.
Get in touch with the expert team at Chestertons Global New Homes for the best new properties for sale in Bristol.