It appears that Bristol is bucking the trend of falling house prices and is set to continue growing according to recent reports. However, it seems as if the recent growth rate will slow down quite considerably as the cost of living crisis rages throughout the country.
If you are considering investing in the Bristol property market, now might be a great time to get on the ladder. There are some great properties on the market and many buyers will accept a lower than asking price offer at the moment in return for a quick sale. But where are the best and most buoyant areas of the city to invest in and why are they likely to hold their value? Read this Bristol property price update to find out more.
If you are thinking of investing in a property in Bristol, then you have probably already thought of Clifton. The suspension bridge and array of beautiful period properties tend to put this part of the city at the forefront of investors’ minds
This is a popular area with young professional renters. The independent shops and cafes in the area give it a wonderfully bohemian vibe, which is likely to keep this part of the city in demand in the future. This means that you are unlikely to suffer many void periods if you invest in property to rent and house prices are likely to stay buoyant.
This is always going to be a popular area to live in as it is close to the harbour. The area has been hugely regenerated in previous decades, which has brought people flocking to the area. There are now an abundance of shops and restaurants in the area, which makes it popular with young professional renters. Its proximity to some of the biggest companies in the area means that this part of the city is likely to remain popular with renters and buyers alike, which will keep prices high.
This is one of the best areas in Bristol if you want to capitalise on the huge student market that property investment in Bristol offers. Lots of properties here have been converted into student accommodation so you will not need to do a lot of work to the property to turn it into an HMO suitable for multiple students, although you will need a licence to do this.
One of the best things about running an HMO is that if a tenant leaves you still have an income from the other tenants, so you won’t be left trying to cover the whole of the mortgage on your own until you find new tenants as you would if you let the property as a single residence.
Renting in a student area means that you will have a new influx of potential renters every year who need to be based in the area you have invested in.
This is one of the most affordable areas in the city so if you are looking to keep your costs down then this area is a great option. You will have to get in quickly though as this is an up-and-coming part of the city where there are lots of new bars and restaurants opening. This is a popular rental location for trendsetters right now but where they go others will follow. This means that you won’t be short of potential renters for many years. The region has seen a huge rise in property prices in recent years and they are still rising.
This has become a popular area of Bristol in recent times. Although it is a little further out of the city centre it is still commutable in about 30 minutes. Transport links are good with the M4 close at hand and a regular bus route running into the city from this area. This means it is a popular area for commuters to live.
The schools in the locality have an excellent reputation and many families move to the area to be near them. Once in the area they are not keen to leave and make their children commute or change schools. This means that the area is very popular with tenants and once you find a good one one, they are likely to stay for quite a while, thus reducing your chances of void periods.
Bristol is a brilliant place to invest in property and these are the best areas to buy if you want to ensure a popular location and a good rental yield.