Six of the top locations where asking prices have increased the most are in Bristol, according to new research by Rightmove
Bristol has become the UK’s biggest property hotspot outside of London in the last decade – with Easton topping the list.
New research by Rightmove has revealed that six of the top ten locations where asking prices have increased the most over the past 10 years are in the city,
Easton has seen average asking prices rise by a staggering 120 per cent in the past decade – a bigger 10-year surge than anywhere else in the UK.
Other areas of the city have also fared well including Whitehall which has seen an increase in property prices of 102 per cent from £128,696 in 2010 to £295,954 in today’s market.
Totterdown is also proving popular with buyers with prices increasing by 88 per cent over the same period from £164,291 to £308,055.
Homeowners in Eastville have seen the value of their properties soar by 86 per cent from £149,361 to £278,432 and in Arnos Vale the price of bricks and mortar has gone up 86 per cent from £192,336 to £357,047.
In Redcliffe the average price of property has risen by 82 per cent from £196,544 a decade ago to £357,149 today.
Nationally, average asking prices have risen by £93,046 in ten years, from £226,950 in September 2010 to £319,996 now, which equates to an increase of 41 per cent.
Across the different sectors, asking prices for first-time buyer properties of two bedrooms or fewer have increased by 39 per cent in 10 years, second-stepper homes of three and four bedrooms are up 41%, and top-of-the-ladder properties of five bedrooms and above have risen by 32 per cent.
The places where average asking prices haven’t yet recovered from 2010 are primarily in Scotland and the North East. Nairn in Scotland, down 15 per cent, and Linthorpe in Middlesbrough, down 12 per cent, have seen the biggest decreases in average asking prices since September 2010.
Rightmove’s director of property data Tim Bannister said: Demand for property in Bristol is exceptionally strong right now.
He said, average asking prices across Bristol as a whole are up by 60 per cent over the past decade and it’s one of the UK’s most thriving regional centres. Bristol has a highly diverse mix of housing stock and is a city where a number of tech companies have based themselves, making it a very attractive place to move to for many buyers.
We know that demand leads to rising prices, but even so, it’s quite a feat that some locations in the city have seen asking prices double since September 2010. If you’re a seller who’s lived in Bristol for 10 or more years, this could be a real opportunity to have a look and see if you could afford to trade up, Bannister said.
Bristol is popular for a number of reasons, from its cultural offerings, to its universities and good transport links.
Andrew Morgan, director at Hollis Morgan Estate Agents & Auctioneers, said: Bristol offers its residents a tremendous quality of life and it’s a very interesting place to live.
He said, I also think, more recently, the working from home revolution has led to an even greater desire for people to move to Bristol. People can technically base themselves in London while actually work remotely in Bristol. People are now very aware of wanting access to outdoor space and we have that in abundance here.
