Here is the latest edition of the Property Options’ monthly update on the Bristol Buy To Let (BTL) market.
This update is by economist Chris Worthington, who is a regular speaker at our PIMs.
New Developments in Bristol
Several new developments of residential property are getting underway in Bristol, evidence of confidence in the Bristol market and the continuing strength of the local economy.
Here are some brief details of developments outside the city centre:
- A mixed use development is at the planning stage at the former Blackberry Hill Hospital site in Fishponds – this will provide 346 new homes
- The old police station at Page Park, BS16 is being converted to five flats
- Seventy new houses and apartments are under construction at Spring Acres in Longwell Green
- The Fifty 7 development of 1, 2 and 3 bed apartments in Kingwood is nearing completion
- Ten 2 bedroom apartments will be available at the Brigstowe development in Shirehampton Village
In the city centre Change Living is creating Redcliffe Place, a collection of 2 and 3 bed apartments and a 3 bed coach house.
This is all good news for improving the housing supply in Bristol and the new developments will provide opportunities for buy to let investors.
The Creative Industries in Bristol
A recent report entitled “Creative Regions” by real estate consultants CBRE highlights the importance of the creative industries in the top 25 creative talent markets outside London. Bristol scores highly in terms of a having a qualified workforce and large number of small business in the creative sector. The Engine Shed business incubator at Temple Meads station features in the report. High tech – hubs in Bristol include the Bristol Robotics Lab, the Bath and Bristol Science Park and the Bristol Games Hub.
Creative businesses in Bristol benefit from two world class universities, high speed internet and the opportunity to share knowledge and network with a thriving community of digital businesses.
For BTL investors the growth of the creative industries in Bristol will create a demand for high quality accommodation. There is also the possibility of being involved with mixed use developments and live/work space.
Finally a comment on “reverse commuting” taken from “Bricks and Mortar”, the Times property supplement. An increasing number of people in Bristol are choosing to live in the city centre to enjoy the lifestyle and commute out to work in companies based in the urban fringes. At least this will help with the traffic!
We will all be discussing the latest position on the property market in Bristol and across the UK at our next PIM on Thursday 28 September 2017 at Holiday Inn, Bristol City Centre, 6-9 pm.
(There is no meeting in August).
We hope you will join us then.
For more info and to reserve your place Click Below