Here is the latest Property Options’ update on the Impact of Brexit on the Bristol Buy To Let (BTL) market
In the last Property Options Market overview we promised an analysis of how well Bristol’s continuing economic prosperity is taking forward the buy to let (BTL) market, as Brexit impacts on the wider economy.
So far the prevailing sentiment on Brexit in the media is “business as usual”.
However in our view Brexit has a slow burning fuse especially with regard to business investment. Let’s look at the story so far in Bristol.
In the housing market Bristol continues to perform well in terms of new investment. Here are some of the latest findings:
- London property specialist Chestertons placed Bristol second, after Edinburgh, in the top ten university towns for investment in student accommodation
- According to a report from Hamptons estate agents, property in the BS1 postcode, including the Harbourside and Redcliffe areas, has performed particularly well in recent years with house prices increasing by 130% since 2010
- Plans are at an advanced stage for a mixed use development to regenerate the Redcliffe Street and St Thomas Street, in joint venture led by Kent based Change Real Estate
This is all good news for the city centre, but how well is housing market in the city performing overall? The July edition of the UK Cities House Price Index, published by property market analysts Hometrack, places Bristol 10th in the league table of quarterly growth in house prices with a price increase 2.5 % in the last quarter.
House prices in Bristol continue to rise, but the cities that have performed best in the league table are mostly where house prices have been comparatively low in the past and where the local economy may still catching up from the financial crash. e.g. Glasgow, Liverpool and Sheffield.
Away from the city centre, the report from Hamptons highlights large price increases in Shirehampton, Avonmouth, Easton and Eastville. The same report also presents an optimistic picture on rents with rent increases averaging 11% in the past year.
The latest Bristol City Market Insight published by Knight Frank is also optimistic. It states “Confidence in the market has remained high despite the wider uncertainty across the UK surrounding the outcome of the EU referendum and higher rates of stamp duty for second home buyers and investors.“
The overall message following the EU referendum therefore appears to be “so far so good. “ In future updates we will continue to keep our clients and followers well informed!
We will all be discussing the latest position on the property market at our next PIM on 29 September 2016 at Holiday Inn, Bristol City Centre, 6-9 pm.
We hope you will join us in September.
For more info and to reserve your place Click Below