Bristol is also on the minds of potential tenants looking to secure accommodation. It is something worth keeping in mind for those looking to invest in Bristol buy to let property. Excluding Greater London, the city is top of the list of areas most searched by would-be tenants looking for a living space. Along with Canterbury and Southampton, Bristol is putting itself on the map as the latest property hotspot attracting all sorts of welcome investment and attention.
Why You Should Invest In Bristol Buy To Let
The South West of England, led primarily by Bristol, saw strong economic growth of 1.9% during 2017. That is driven by the city’s strong office-based employment sector. Bristol is expected to stride forward ahead of the rest of the UK with 6.5% office-based employment growth ahead of the 5% expected from the rest of the country.
Bristol’s biggest strength in this regard lies in its robust professional, science and tech sectors that are projected to enjoy 12% growth over the next half a decade against the predicted national average of 8.5%. In more concrete terms, that means an increase of 4,000 jobs in these sectors of Bristol’s workforce.
Such trends and high numbers are not just confined to one sector. Bristol enjoys high numbers across the board of its employment sectors and the workforce. It has the highest and most productive GVA relative to its population among the UK’s core cities. This is largely in part to its large number of business start-ups, the third highest in the country, and a massive spike of available jobs. The number of new start-ups in Bristol grew by 10.8% over the last few years; only ranking behind Manchester and Nottingham.
The other feather in Bristol’s workforce cap is in its modern tech-led and digital industries, with 17,000 jobs held in these industries. Bristol is a modern-day hub for film and television production. The city was named a UNESCO Creative City of Film in 2017, and its TV post-production work sector grew by a startling 75% between 2010 and 2017, beating out London by over three times their productivity. The industry provides a perpetuation of Bristol’s economy, with an annual inward contribution of just under £20 million.