In south-west UK, the average property price in June rose by 1.4% compared to the previous month and by 5% compared to 2015, standing at just over £302,000.
Bristol’s house prices are now rising at a faster pace than those in London or Cambridge and the average price of a Bristol house now stands at over £250,000.
Bristol's market is still rising and can currently be considered the fastest growing of all the UK. With both universities and industry to attract people to Bristol, the city should find itself an attractive proposition. However, the lack of housing in Bristol is so severe that many potential buyers are simply being priced out of the market.
There have been many residential accommodation units built in recent years for the ever-increasing student population, a factor which helps to ease demand on the local housing market, particularly for smaller properties and the local authority is keen to support this type of development.
There are over 40,000 rental properties in Bristol, the bulk of which (nearly 70%) are rented to either one- or two-people households. Buy-to-let properties can therefore be considered a good investment, but you will need to be quick to buy any that come onto the market.
If you’re lucky enough to bag yourself a Bristol property, please consider calling Cailean Mortgages on 0131 510 7071 for impartial advice on a buy-to-let mortgage or indeed, any other type of mortgage or mortgage protection insurance.