What is Happening to Property Prices in Bristol?

If you’ve been looking at the housing market recently, you might have noticed a change in property prices in Bristol. Demand for housing is on the rise and is driving up property prices. Whether you’re a seasoned investor, a first-time buyer or simply interested in the property market, this blog will explore the reasons behind this increase and how you can navigate the market with confidence.

House price increases

Bristol house prices have increased by 9% on average since the peak of 2021. The average house price in Bristol was £343,000 in June 2024, an increase of 2.5% compared to the previous year. This rise is due to multiple factors, including economic opportunity, the high quality of living, and an increase in remote working. The city is attracting more residents with its family homes and universities, and with the rise in remote or flexible working, people are moving back to their home or university city. 

What is driving house prices up in Bristol?

Bristol has plenty of attractive qualities that are causing property demand to soar. It boasts a number of job opportunities, great schools and universities, an abundance of green spaces and a vibrant culture. This better quality of life has correlated with a higher cost of living, and as more people move to Bristol due to its desirability, the demand for housing continues to rise. Luckily, Bristol has plenty of space to accommodate new residents!

Property demand in Bristol

There are numerous reasons people are drawn to Bristol. It’s the UK’s only European Green Capital and has plenty of parks and outdoor spaces to explore, as well as a thriving arts and culture scene with music venues and theatres. It houses everything from large shopping centres to quirky boutiques and independent shops, and has a fantastic food scene. Bristol offers endless possibilities for growth and advancement with diverse educational and career opportunities — and proximity to the coast and great transport links are a huge plus!

Is now a good time to buy property?

Properties are currently on the market for longer, due to the increased cost of living in the UK. This also has the consequence of sellers being more flexible with their pricing in order to sell their property. For buyers, it’s an excellent opportunity to explore their options and even get a better deal that suits their budget. With properties on the market for longer, buyers have more time to consider their choices and find their dream home.

What is the housing market prediction for Bristol?

House prices in Bristol are forecasted to grow by 17% between 2024 and 2027, meaning that the housing market in this city will remain strong and resilient over the coming years.

Is it worth buying property in Bristol?

In short, yes! Out of all the types of property to choose from, buying a tenanted or buy-to-let property in Bristol would be especially beneficial. As a university city (to not one but two universities) Bristol has plenty of students in need of temporary accommodation whilst they complete their studies. Alternatively, if you are looking to sell a tenanted property to purchase a home in Bristol, then get in touch with SellHouseFast.co.uk. We can give you a free, no obligation cash offer to find out how much your tenanted property is worth.