Bristol Property Investment

Bristol property investment is one of the up and coming markets across the UK. Being named a “property hotspot” in some quarters, the Bristol buy to let market is quickly becoming the focus of attention and envious eyes up and down the country. To invest in Bristol at this time would undoubtedly be a wise move.

With a population of 459,300, it is impossible to ignore Bristol’s place in the UK’s consciousness. The South West city, the tenth largest in the country, can probably be regarded as an unsung hero of the UK’s economy, character and future.

Property Investment Bristol

Bristol comes replete with impressive statistics. It is home to Bristol Zoo, the fifth oldest zoo in the world. It was also the first city in the UK to undertake a local currency project, with the Bristol Pound carving a path for other towns, cities and smaller locales to add some flavour and momentum to their local economies and businesses. The amount of private businesses in Bristol stands at an impressive 17,500, each offering their cog in the city’s great engine. Some of those businesses reside on the rather pleasant Gloucester Road, upon which there are more independent shops down that strip than on any other street or road in the UK.

Dating back to the 11th century, what we know as Bristol today is a sprawling, historical and vibrant city that offers something a little different. Bristol is attractive and prosperous enough to have experienced a massive 11.6% population boom over the last decade. That is well above the national average, which stands at 8.2%. That surge in population has increased Bristol’s youngest demographics, with the city’s median age of 33 falling far below the ever-increasing national average of 40. That has been helped by a massive surge of births in the last decade in Bristol, a trend which shows no signs of tapering off. Bristol also offers a great deal of social diversity, with 16% of residents belonging to a black and minority ethnic (BAME) group.

Conversely, at the other end of the scale at Bristol’s age demographics, the city has the lowest proportion of people aged over 65. At 13% of the population, that falls much below the national average of 18% across the rest of the UK. The younger age median and spread across the age demographic keeps Bristol’s property market booming as it has across the rest of the UK too.

Bristol Population Property Investment Bristol

Bristol Buy To Let

The Bristol property investment market has blossomed thanks to a studious concentration on new builds and a high proportion of the city’s residents living in rented accommodation. A discerning investor looking invest in Bristol buy to let will have plenty of options in which to place their money.

Since 2006, just under 20,000 new homes were built in Bristol at a rate of around 1,800 per year. By taking the total number of homes in the city to 198,400, there are further plans from the city’s authorities to build an additional 33,500 new homes over a 20-year period from 2016 to 2036.

It is the Bristol buy to let market that has benefited from Bristol’s growth and surge and population. Up to 29% of the city’s population live in privately rented accommodation, a figure that has increased from 12% since the turn of the century. The strong growth in Bristol property investment is aided by a variety of new build and development projects that have ensured a healthy workforce, more residents and strong tourist numbers.

For those looking to invest in Bristol buy to let, there is plenty to get excited about with the Bristol property investment market. The city possesses one of the top 25 highest yielding postcodes in the country. The BS2 postcode, covering the areas of Kingsdown, St Pauls, St Phillips and St Agnes, grants investors a high rental yield of 7.87% with an average property price of £201,014.

Bristol Construction Property Investment Bristol

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.

Commuting in Bristol

For Bristol property investment and those looking to invest in Bristol buy to let, it means a steady stream of potential tenants, primarily young professionals, will filter into the city to live and work as these sectors hit their expected growth targets. Young professionals demand high-end luxury accommodation in and around the city centre. It offers a much more relaxed and quicker commute and provides residents with better access to the amenities that a vibrant, prosperous and growing city centre such as Bristol’s can offer.

The demand for a more comfortable commute is perfect for Bristol, a city that has the highest proportion of the workforce cycling or walking to work than anywhere else in the UK. Over a quarter (27%) of Bristol’s workers elect to skip the traditional bus and train-fuelled rush hour maelstrom in favour of more economical and environmentally friendly means. The total number of those cycling or walking increased by 54% over the five years from 2011 to 2016. The effects of this are felt even concerning the safety of working Bristolians, with deaths as a result of road traffic accidents down year on year for the past five years.

The result of ever-increasing economic, work-based and Bristol property investment activity means big things for the city’s tourism economy. Tourism means big money for Bristol, with 11.6 million day visits to Bristol across 2017/18. Over two million domestic and overseas staying holidays are worth a total of £1.33 billion to Bristol and the wider region, with 22,000 jobs retained in areas linking to tourism. It is also becoming more accessible to get to Bristol from overseas, as the city’s Bristol Airport is the fastest-growing regional airport in the UK.

Education in Bristol

The city’s two universities perpetuate the flood of young professionals living and working in Bristol. The two leading higher education institutes in the city are the University of Bristol and the University of the West of England.

The University of Bristol’s is the city’s central redbrick institute. The University enrolled 23,590 students as of 2016/17, 17% of which came from overseas and outside of the European Union. A further 5% of the University of Bristol’s student body came from within the EU.

The university is the apex of this young-leaning city’s philosophy and the hope of creating an entirely self-perpetuating economy at the heart of it. The combination of a phalanx of young professionals boosting the city’s economy and workforce, the young demographic of the population and the student population is a boon for the Bristol property investment market and for those looking to invest in Bristol buy to let.

The future, much like the present, looks incredibly bright for Bristol. A slew of regeneration projects has been implemented to fortify the city’s current rude health and to provide the foundations for even more prosperous times ahead. Endeavours such as the Filwood Green Business Park and the work at Gainsborough Square have already bolstered strong areas in Bristol.

The work taking place at Knowle West over the next twenty years will be pivotal. Deemed a key priority by the city council, the planned developments aim to create 2,000 new residential spaces, further employment opportunities and renewed transport links, along with plans for more retail and green spaces that provide an economic and environmental lift for the whole community and the wider area.

For Bristol property investment and those looking to invest in Bristol buy to let, these regeneration projects and the city authorities’ push toward maintaining their current good trends, can only increase the potential demand from tenants looking for the best accommodation available with an affordable price range.

Bristol Student Property
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