Bristol is a bustling hub of culture, friendly faces, and economic opportunity. Nestled on the scientific banks of the beautiful River Avon, Bristol is known for its historic charm, lush green spaces, and great higher education institutions.
It’s no wonder house prices are on the rise in such a sought-after city. If you’re considering investing in property in Bristol, there’s never been a better time to weigh up your options. This article explores why house prices in Bristol are so high, looks at the cost of living in Bristol and nearby cities, and explores the pros and cons of this South-West gem.
Why are houses expensive in Bristol?
Houses are expensive in Bristol for many reasons. These include:
- A high standard of living. With an abundance of parks, historic landmarks, and a thriving nightlife, Bristol has become a hotspot for those seeking a quality lifestyle.
- Great links to other cities. Bristol has invested a lot of money into their infrastructure. This means it has great links to other major cities like London, Birmingham, and Manchester. You can get just about anywhere from Temple Meads!
- Vibrant cultural scene. Bristol boasts a rich history, diverse communities, and a thriving arts and music scene, contributing to its desirability and appeal to both residents and visitors.
- Economic opportunity. The high demand for housing is also fueled by the city’s economic opportunities. A strong job market in sectors like aerospace, technology, and creative industries makes Bristol the place to be for young professionals.
Is Bristol expensive or cheap to live in?
Bristol is considered to have a higher cost of living than other southern cities. Due to the high quality of life and great employment opportunities, Bristol has a magnetism that draws young professionals and new graduates.
However, it’s important to note that the higher cost of living in Bristol is often a trade-off for the numerous benefits the city offers.
Is Bristol worth moving to?
Bristol is a great city to move to. In spite of the higher cost of living, they have a thriving social scene, delicious restaurants, vibrant green spaces, cosy pubs, and a bustling harbour.
Is it worth buying a house in Bristol?
There’s never been a better time to buy in Bristol. Due to the increased cost of living, lots of people are looking to sell, but few are looking to buy. This unique situation presents an excellent opportunity for savvy homebuyers to find a property that both suits their needs and offers long-term value.
The cost of living in cities near to Bristol
Bath
Like Bristol, Bath is one of the more expensive cities in the UK. The high cost of living can be linked to its Roman baths, beautiful Georgian architecture, and UNESCO World Heritage status. In fact, a family of 4 can expect to pay £2,976 per month on living expenses before rent or mortgage.
Cardiff
A family of four can expect to live on £2,427 per month in Cardiff. Again, this is before rent or mortgage. This is considerably cheaper than Bath’s £2,976 or Bristol’s £2,730. While Cardiff offers a more budget-friendly option for families, it doesn’t compromise on quality of life. The city has access to excellent schools, great universities, beautiful green spaces, and so much more.
Gloucester
Gloucester is one of the cheapest cities to live in. A family of 4 can expect to live on £1,162 per month before rent or mortgage. This affordability makes Gloucester an attractive option for those looking to strike a balance between a comfortable lifestyle and cost-conscious living.
Are house prices in Bristol falling?
House prices in Bristol have grown an average of 8.1% year on year. This means house prices are steadily increasing, not falling, making it a great time to invest in a Bristol property.
Is Bristol a good place to invest in property?
Bristol is a great place to invest in property. Whether you’re looking for a renovation project, long-term rental, or student letting opportunity, the diverse real estate landscape of Bristol offers great opportunities for growth.
If you’re looking to sell up and buy a house in Bristol, look no further than We Buy Any Home. We’ll buy your current buy-to-let, tenanted, or worse-for-wear property fast and with cash. That means you can focus on your next opportunity in the thriving Bristol property market without the delays and uncertainties often associated with traditional selling methods.
What are the pros and cons of Bristol?
Pros
Historical charm
Bristol has incredible historical landmarks, including the Clifton Suspension Bridge, Bristol Cathedral, Cabot Tower, the SS Great Britain, and Cheddar Gorge.
Plenty to do
The city boasts a vibrant cultural scene with theatres, museums, and art galleries. Trendy neighbourhoods like Stokes Croft offer eclectic shops, while the Harbourside provides a picturesque backdrop for leisurely strolls. Plus, the International Balloon Fiesta paints the sky once a year and draws visitors from all over the world.
Friendly neighbours
Bristolians are known for their welcoming atmosphere, diverse population, and sense of community. Whether you’re a longtime Bristolian or a newcomer, you’ll be embraced by the open arms of a community that values connection, inclusion, and shared experiences.
Economic opportunities
Bristol has made great investments into their infrastructure and economy in recent years, and they’re now reaping the rewards. It’s the perfect place to advance your career, especially in the creative and technology sectors.
Cons
High cost of living
Bristol has a higher-than-average cost of living. A family of four can expect to pay £2,730 per month before rent or mortgage payments. This can be justified by their great quality of life. However, for lower-earring families, Bristol may be a stretch.
Traffic congestion
Like many cities, Bristol can experience traffic congestion, especially during peak hours. However, Bristol’s fleet of public transport services can help you work around this.
Nightlife noise
You may find the hustle and bustle of Bristol’s nightlife to be a little much, especially if you live in the city centre. However, if peace and tranquillity are high on your list of priorities, Bristol offers quieter residential neighbourhoods that might offer the ideal balance.
How We Buy Any Home Can Help
We Buy Any Home will buy your house or flat as-is without any further renovations. That means we’ll buy your cladded flat, rough-around-the-edges bungalow, or tenanted property fast and with cash. This means you can focus on buying your next investment property or starting your next adventure in a new city.
Check out our blog on the nuances of selling a tenanted property for more information on how We Buy Any Home can help you take your next steps.
