Property investors in Bristol could be set for an extra injection of cash in 2016, with news that property prices in London are so expensive, many are considering buying homes in regional cities such as Bristol, Glasgow and Manchester instead.
According to this recent report many worked in London are locked out of buying property in the capital city, with the average price of buying a home in London now tipping 12 times the average worker’s salary.
This means that property investment and homebuyers could well be growing in regional cities, such as Bristol, where according to the report it’s possible to buy two homes for the price of what could be purchased in London.
This could well see new levels of property investment in Bristol, as workers exodus out of the capital city, and decide to settle in regional cities instead where they can afford to get on the property ladder and buy a home for the first time.
Our letting agents in Downend and Clifton have certainly noted an increasingly buys 2015, with no signs of demand for high-quality rented properties in Bristol slowing.
House prices in London have increased by 10% in the last year – compared to 8.8% in Bristol, according to the report. Clearly, regional cities such as Bristol are representing more attractive and affordable property investment options now.
Our teams of expert, award-winning letting agents are available at our Downend and Clifton offices in Bristol to assist property landlords and professional tenants.
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