All sources have been thoroughly verified for credibility. Furthermore, a local real estate expert has reviewed and approved the final article.
Yes, the analysis of Bristol's property market is included in our pack
Thinking about buying a property in Bristol? You're not alone!
Many people find Bristol's creative scene inspiring and fantasize about owning a stylish loft or a contemporary apartment there.
Still, would it be a smart investment? Are property prices increasing in Bristol? What is the current trend? Should you consider buying in Clifton or Stokes Croft? What are the taxes? Where can you get a yield above 7%?
We have the answers.
The Investropa team has done their homework and know this market well. Actually, we've gathered all our findings in a pack. Get it now.
In this article, get ready to receive valuable insights from us.
How is the property market in Bristol?
Is the property market going up or down? Opinions vary. As for us, we don’t listen to rumors. We use up-to-date data and statistics, to ensure our conclusions are well-founded.
Property types
In Bristol, there are various types of properties for sale to meet different needs and preferences.
These include houses, apartments, townhouses, and condos. Houses typically offer more space and privacy, while apartments and condos are suitable for those seeking a more low-maintenance lifestyle with amenities. Townhouses can be a good option for those looking for a blend of space and convenience.
Additionally, properties may vary in terms of the number of bedrooms and bathrooms, their location within the city, and features like gardens or parking spaces.
Whatever your preferences and budget, Bristol's real estate market offers a wide range of choices for potential buyers.
Buying or renting?
(In case you want it for yourself, not for rental purposes)
Whether you've already made Bristol your home or are contemplating it for the future, you might be thinking about the pros and cons of buying versus renting in this vibrant British city.
Usually, buying is better than renting in Bristol due to the city's high rental prices and increasing property values.
On the other hand, renting might be the better fit if you value flexibility.
Property prices in Bristol
On average, according to the last data from Halifax and Bank of Scotland, purchasing a property in Bristol should cost you around $3,900 per square meter.
Obviously, there is a huge spread. A property in Clifton may have a higher price per square meter than a house in Redland. We actually give you a more detailed breakdown in our pack for buying property in Bristol and in the UK.
To put things in perspective, it is 4.9 times less than the property prices in the center of New York.
Also, housing prices in Bristol are 72% cheaper than in London.
The most expensive neighbourhoods in Bristol are probably Clifton, Redland, Westbury-on-Trym and Sneyd Park, while the cheapest neighbourhoods are likely to be Easton, Lawrence Hill, Filwood and Hartcliffe.
Trends
First and foremost, we have to acknowledge that the United Kingdom remains, today, a very stable country. The last Fragile State Index that has been reported for this place is 40.6.
It is something to have in mind when wondering whether it's a good investment to buy a property in Bristol.
Also, according to the IMF’s forecasts, the UK's economy is expected to soar by 6% in the coming 5 years, resulting in an average GDP growth rate of 1.2%.
If you intend to invest in real estate in Bristol it's a good thing because an expanding economy (usually) leads to higher incomes for citizens, enabling them to invest in real estate, which boosts demand and prices for properties.
Also, in the UK, the average GDP per capita has changed by 0.5% over the last 5 years. The growth, although minimal, is still present.
Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in the UK right now.
Buying property in Bristol
It can be difficult to buy property in Bristoland due to the lack of reliable and up-to-date information available. That's why we have created the pack to buy property in Bristol and in the UK.
Buying process
In our pack, we've explained the entire process of buying properties in a detailed way. We've pointed out the mistakes to steer clear of, shared tips for finding properties that give you the best returns, and provided information about taxes and necessary documents.
Now, we're giving you a simplified version of the buying process.
This is the step-by-step process to purchase a property in Bristol:
- Determine budget and property requirements, considering specific Bristol neighborhoods.
- Get a mortgage pre-approval from a Bristol-based lender.
- Engage a local estate agent familiar with the Bristol property market.
- View properties and make offers, considering unique features of Bristol properties.
- Complete a property survey and conveyancing checks, including local land searches.
- Finalize mortgage and property contract with a Bristol solicitor.
- Arrange property insurance tailored to Bristol's specific risks.
- Exchange contracts and pay the deposit, adhering to Bristol's legal requirements.
- Complete final searches and checks, including Bristol-specific regulations.
- Transfer remaining funds to the Bristol solicitor's trust account.
- Complete the property sale, ensuring compliance with Bristol's property laws.
- Register property ownership with the Bristol Land Registry.
Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in the UK.
Make a profitable investment in Bristol
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Where to find a property
Discover your ideal property in Bristol with the help of these websites:
- Zoopla - Find properties, check house prices, and receive expert advice on buying, renting, and selling homes.
- Rightmove - A property search platform in the UK, providing homes for sale and rent, house prices, and property news.
- Find UK Property - Specialists in UK property for overseas buyers, UK expats, and buy-to-let investors. They offer budget-friendly houses with guaranteed rent and property management.
- Home.co.uk - The UK's comprehensive property search platform, connecting buyers and renters to over 566,000 properties and numerous estate and letting agents.
- On the Market - A property search platform offering UK homes for sale and rent, showcasing new properties before they appear on Rightmove or Zoopla.
Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in the UK.
What you can get
As mentioned before, the average price per sqm in Bristol is $3,900. A 1-bedroom property of 60 square meters would cost approximately $234,000, and a 2-bedroom of 85 square meters would be around $332,000.
However, the cost of properties will fluctuate depending on both their characteristics and their location.
Top neighborhoods in Bristol typically come with higher price tags. If you're considering Clifton, a residence might run you approximately $950,000, whereas in Redland, a residence could be priced at $880,000.
On the other hand, some places are more affordable. You can find a condo in Knowle for $130,000 or a condo in Hartcliffe for only $110,000.
We give a more detailed breakdown in our full pack for buying property in the UK.
Risks and pitfalls
Here are the main pitfalls specific to buying a property in Bristol, UK:
- Conservation areas: Properties within conservation zones have stricter planning restrictions, limiting potential modifications.
- Grade-listed buildings: Buying a listed property may come with costly maintenance and renovation obligations.
- Clifton Suspension Bridge tolls: Living near the bridge means facing regular toll charges for vehicles.
- Commute congestion: Bristol's traffic congestion can impact daily travel time and affect work-life balance.
- Avon Gorge risks: Properties near the gorge may have geological instability, requiring specialized structural surveys.
- Bristol Channel tides: Coastal properties face potential flooding risks due to tidal surges and sea-level changes.
- HMO regulations: Buying a house for multiple occupants requires compliance with strict House in Multiple Occupation (HMO) regulations.
- Air quality issues: Certain areas in Bristol have air pollution concerns, affecting health and property value.
We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.
Everything you need to know is included in our United Kingdom Property Pack
Living in Bristol
Bristol is a vibrant and diverse city with a great quality of life, making it an ideal place to buy property.
Cost of living
The cost of living in Bristol is quite reasonable, with prices for basic goods and services being slightly lower than the UK average. Rental prices are slightly higher than the national average, but still remain affordable for most people.
Here are some examples to better understand the cost of living in Bristol:
- Monthly rent for a stylish apartment in the artistic Stokes Croft neighborhood: $1,200-$2,100.
- A pint of local Bristol cider (e.g., Thatchers or Ashton Press) at a traditional pub: $4-$6.
- Monthly transportation pass for buses and trains within Bristol: $70-$100.
- A cup of traditional Bristol-style tea with a Bristol cream cake: $3-$5.
- Admission to the SS Great Britain: $13-$20.
- Monthly membership at a Bristol-based boutique fitness studio or yoga studio: $50-$100.
- Fresh produce from the St Nicholas Market for a week: $25-$50.
- A bottle of local Bristol gin (e.g., Bristol Dry Gin) from a liquor store: $25-$35.
Neighbourhoods and spots
Since our aim is to provide information in a clear and reader-friendly manner, we've created a summary table outlining the various neighborhoods in Bristol. For yields, prices and rents, check our property pack.
| Neighborhood | Description | Strengths | Weaknesses |
|---|---|---|---|
Clifton | Clifton is an upscale area known for its Georgian architecture and picturesque streets. It offers stunning views of the Avon Gorge and is home to the iconic Clifton Suspension Bridge. | Scenic beauty, historical charm, and a vibrant cafe and restaurant scene. | Higher living costs, limited parking, and busy tourist traffic. |
Bedminster | Bedminster is a diverse neighborhood with a strong community spirit. It has a mix of independent shops, pubs, and cultural events. | Close-knit community, cultural diversity, and accessibility to amenities. | Some areas may be less affluent, and there can be occasional noise from lively events. |
Stokes Croft | Stokes Croft is known for its vibrant street art, independent shops, and lively nightlife. It attracts a creative and alternative crowd. | Artistic and creative atmosphere, a variety of entertainment options, and strong community engagement. | Some parts may experience occasional noise and the area can be lively late into the night. |
Redland | Redland is a popular residential area with a mix of Victorian and Edwardian homes. It is close to the University of Bristol and offers a pleasant community environment. | Great schools, beautiful parks, and easy access to amenities. | Can be pricey, limited parking, and may have high demand for housing. |
Hotwells | Hotwells is a historic area located on Bristol's floating harbor. It offers a mix of modern apartments and period houses, with some fantastic waterfront views. | Stunning harbor views, waterside living, and proximity to the city center. | Some parts may be prone to flooding, limited green spaces, and can be noisy due to harbor activities. |
Easton | Easton is a diverse and multicultural neighborhood with a strong sense of community. It has a lively high street with a mix of shops and restaurants. | Cultural diversity, vibrant community events, and affordable housing options. | Parts of the area may have higher crime rates, limited parking, and occasional noise. |
Cotham | Cotham is a leafy and affluent area with many large Victorian houses. It is home to several schools and is well-connected to the city center. | Beautiful architecture, good schools, and easy access to amenities. | Higher property prices, limited parking, and some areas may experience traffic congestion. |
Montpelier | Montpelier is an artistic and bohemian neighborhood known for its vibrant street art and independent shops. It has a diverse community and a strong sense of local identity. | Artistic atmosphere, cultural diversity, and a variety of unique shops and cafes. | Some areas may be less affluent, limited parking, and can be noisy at times. |
Southville | Southville is a trendy and bustling area with a mix of Victorian and modern housing. It has a vibrant North Street with numerous bars, cafes, and restaurants. | Lively social scene, good schools, and proximity to the harbor. | High demand for housing, limited parking, and can be noisy during weekends. |
Life in Bristol
Bristol is one of the most economically vibrant cities in the UK, with a strong and growing financial services, ICT, creative and digital sectors. The city is also a hub of innovation, with a large number of start-ups and established businesses.
What expats usually like the most in Bristol is its vibrant and diverse culture, with a huge variety of restaurants, bars, and entertainment venues. It also has a great selection of outdoor activities, including walking and cycling trails, parks, and beaches.
Unfortunately, we can't say there is no crime in Bristol (the crime rate index is around 42, which is not so favorable. Examples of crimes in Bristol include theft, drug offences, violent crime, and anti-social behaviour, which mainly affect the local population and not the expat population.
A good point for a property investor - Bristol is served by the Bristol Metro, a light rail network operated by First West of England.
Access to healthcare in Bristol is generally good, with a range of options available including the NHS, private services, and community-run health services.
Finally, it is worth noting that the University of Bristol ranks among the top 80 universities in the world.
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Renting out in Bristol
For those aiming to buy property solely for renting out and earning income.
Long-term
Tenant Profiles in Bristol
According to the data reported by Wikipedia, the home ownership rate in the UK is 63%, which is not much.
It means that, if you decide to buy and rent out in Bristol, there will be a lot of people who can become your potential tenants.
If you decide to buy and rent out to long-term tenants, you should target young professionals, families, students, and retirees who are looking for an affordable and accessible place to live in Bristol. Additionally, Bristol is also known for its large student population, so investors may want to consider targeting student tenants as well.
Here is a little summary table we've made for you.
| Property type and area | Profiles of potential tenants | What they are looking for | Expected monthly rent in $ |
|---|---|---|---|
Studio in City Centre | Students, young professionals | Urban lifestyle, convenience | $600 - $1,200 |
Apartment in Clifton | Professionals, families | Prestigious area, close to amenities | $900 - $2,000 |
Terraced House in Bedminster | Young families, artists | Bohemian vibe, local art scene | $1,200 - $2,500 |
Flat in Harbourside | Creative professionals | Waterfront living, cultural attractions | $800 - $1,800 |
1-Bedroom Apartment in Redland | Graduate students, young couples | Near university, parks | $700 - $1,400 |
Detached House in Westbury-on-Trym | Affluent families, executives | Suburban luxury, good schools | $1,800 - $3,500 |
2-Bedroom Flat in Southville | Students, professionals | Close to city, public transport | $800 - $1,600 |
Rental yields
Nowadays, the rental yields you get in Bristol are between 5% and 7%. There are some opportunities. So you know, a "good" rental yield is above 7%.
Rental yields in Bristol are typically highest for properties in areas with high demand, such as close to universities or good transport links. This is because these areas attract more tenants, allowing landlords to charge higher rents and achieve a better return on their investment.
For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.
Finally, be aware that rental incomes in Bristol are taxed at 20%, which is rather good.
Short-term
You could also decide to rent short-term to university students, who come to Bristol for short-term courses or internships, or to business professionals who are travelling to Bristol for a few days for work. Additionally, you could rent to tourists who are looking for a short-term stay in Bristol.
If you decide to go with that option, look for properties in the city centre and around Clifton Down, as they are popular areas for short-term lettings. Additionally, the harbourside area and the neighbourhoods around the University of Bristol are also worth exploring.
Currently, there are approximately 4,000 active Airbnb listings in Bristol, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $181, which is quite high.
You have the opportunity to generate a nice additional income stream then. According to online testimonials and analytics platform like AirDNA, Guesty and Inside Airbnb, people who offer short-term rentals in Bristol can make around $2700 per month. Also, the average occupancy rate is estimated at 67%.
Is it worth buying real estate in Bristol then?
Certainly, when it comes to buying property in Bristol, it can be a fantastic idea under the right circumstances.
Bristol is a dynamic and culturally rich city with a lot to offer, making it an attractive destination for both living and investing. If you're planning to make Bristol your long-term home or seeking a solid investment with rental income potential, buying a property here can be a smart move.
The city's property market is growing, and with rental yields ranging from 5% to 7%, it offers the potential for a profitable investment. Additionally, Bristol's property prices, while varying by neighborhood, are generally more affordable than those in major cities like London, making it accessible to a wider range of buyers.
However, buying in Bristol might not be the right choice if you're looking for short-term flexibility or have a limited budget. Renting can be a better option for those with temporary plans or tight financial constraints. Property investments also come with risks, including market fluctuations, maintenance costs, and potential changes in property values, so if you're risk-averse and prefer safer investments, you may want to explore alternative options.
Ultimately, the decision to buy a property in Bristol should align with your long-term goals and financial situation. Conduct thorough research, consider your circumstances, and evaluate your investment objectives before diving into the Bristol property market.
Make sure you understand the real estate market in Bristol
Don't rush into buying the wrong property in the UK. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.