Here is Property Options’ latest update on the Bristol Buy To Let (BTL) market – for March 2019.
This update is by economist Chris Worthington, who is a regular PIM speaker.
Bristol Housing Company
Local Bristol news website Bristol Live reported that Bristol City Council has launched its own housing company, a major step forward in tackling the city’s housing crisis.
Director of Housing, Paul Smith commented
“Not enough new homes are built each year in Bristol to meet the demand and this results in high rents and escalating house prices. The company will give the council greater influence over what is built so we can ensure developments provide good quality homes that best suit the needs of the local community.”
Bristol’s mayor, Marvin Rees added
“The shortage of affordable housing is one of the biggest challenges facing the city and one that we are tackling head on. Building quality housing is vital to making things happen in the city and improving the quality of life for the people who live here.
I pledged that by 2020 we would be building 2,000 homes per year, 800 affordable and this is another step towards meeting that target.“
In a survey of UK commuter towns based on relative house prices and the cost of commuting by estate agents Jackson Stopp, Avonmouth is the top recommendation for commuters to Bristol city centre.
House prices average around £190,000, there is free parking at the station and reliable trains every half hour. However while some new property is being built in Avonmouth, it might be argued that there is currently a shortage of property on the market for BTL investors.
Licensing of Property in the Stapleton Road Area
The Bristol Magazine recently reported that 850 rented properties in the Stapleton Road area have received improvements thanks to a licensing scheme implemented by the council.
The scheme started in 2013 and lasted for five years. A total of 1648 licence inspections were carried out and 1207 properties were licensed. The majority of landlords worked with the council to bring their properties up to the required standard.
A second scheme is underway in Eastville and St George.
The latest edition of Landlord News produced by Bristol City Council’s Private Housing Team includes articles on fire safety, the Tenants Fees Bill, and Licensing of HMOs.
To get a copy contact the Private Renting Team on 0117 352 6888 or email email@example.com
South West Landlord Expo – 2 April in Bristol
For information about the 2019 South West Landlord Expo in Bristol on 2nd April go to www.landlordexpo.co.uk
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 28 March 2019 at Future Inn, Bristol, BS1 3EN.
We hope you will join us then.
For more info and to reserve your place Click Below