Here is Property Options’ latest update on the Bristol Buy To Let (BTL) market – for August 2018.
This update is by economist Chris Worthington, who is a regular PIM speaker.
Bristol continues to rank highly as an attractive place to live in the UK.
In the recent “Selling Points” survey of 26 major cities by home buying company Webuyanyhome Bristol was ranked 1st for employment, 3rd for average property sale time, 3rd for average wage and 5th for Ofsted school ratings.
Elliot Castle, CEO of Webuyanyhome commented “We took into consideration a variety of factors that really matter to both buyers and sellers. Bristol scored well across the board offering a high quality of living in several areas.
Bristol also continues to perform well in the housing and buy to market.
The latest UK Cities House Price Index published by property analyst company Hometrack placed Bristol 11th in the league table of 20 cities for year on year house price growth with an annual growth of 4.6%. This is slightly ahead of the average of 4.1% in the Index and is close to the house price growth of 4.2% recorded in Bristol in the previous year indicating that house price growth in Bristol is consistent.
Online estate agents Emoov publish a “hotspots index” based on the number of properties sold as a percentage of homes listed for sale. Bristol is at the top of the table of the Index in England with a score of 45%.
There is also evidence of strong demand for rented property in Bristol.
Rightmove monitor the time that a property is posted on the site until the time it is let. The average number of days to let in Bristol is 22 days compared with the national average of 36 days and 40 days in London. Bristol has one of shortest times to let in the country.
Miles Shipside, Rightmove’s Housing Market Analyst commented “tenants looking to rent in the South West should note that properties are moving faster than this time last year so they need to move more quickly to secure a good quality home.”
On this evidence, the overall picture for landlords and buy to let investors in Bristol is that the city continues to perform much better than the UK average.
Our Next Property Meeting
We will all be discussing the latest position on the property market in Bristol and across the UK at our next PIM on Thursday 27 September 2018 at Future Inn, Bristol, BS1 3EN.
We hope you will join us then.
For more info and to reserve your place Click Below