This is the latest edition of the Property Options’ monthly update on the Bristol buy to let (BTL) market
Brexit has dominated the news for the past few weeks, but in this update we will assume that it is “business as usual” at least in Bristol.
We will return to Brexit and a broader overview of the buy to let market in the next edition.
Bristol continues to be a hotspot for buy to let property investment.
The June edition of the All City House Price Index published by property market analysts Hometrack places Bristol 5th in the league table of annual increase in house prices at 14.7%.
Luton, Milton Keynes, Medway and Swindon are the only towns and cities ahead of Bristol, from the total of 65 in the league table, while London has fallen to three places below Bristol.
Rents are also on an upward trend with an increase of around 1.5% in the last quarter, again better than London where rents have fallen by 1.1% in the last quarter.
Bristol continues to get good press coverage as a great place to live and invest. In the June edition of The Times “Bricks and Mortar” property supplement Bishopston and St Andrews were featured as desirable areas. However house prices there are on the high side and many buy to let investors would be more interested in lower priced areas, such as nearby St Werburghs and Montpelier.
At the top end of the market, Harbourside is growing in popularity for BTL investors, while Easton and Bedminster have continued on an upward trajectory in terms of substantial increases in house prices and rents.
The choice of properties available to BTL investors in the city centre of Bristol is growing because of several schemes to convert older office buildings to residential use. These were the subject of a recent article in Bristol Business News, the local on line business newspaper. The former government offices at the Pithay are being redeveloped for mixed use including residential.
Other recent conversions from office to residential include 33 Victoria Street and Lewins Place. For BTL landlords with deep pockets these developments provide modern accommodation and will attract high quality tenants. They will also benefit from having low maintenance costs.
Looking to the future Bristol’s economic success is set to continue. The latest developments include plans for a Metro Mayor for the sub region including Bristol, Bath, and South Gloucestershire with substantial devolved powers including transport, skills, housing and economic development. With Bristol at the centre of the sub region this is good news for BTL investors and the property market in general.
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