Bristol is the capital of the South West, known as the star performer property market for the second year running. According to recent research by Strutt & Parker, the city is pulling in higher proportions of Londoners that have been falling for Bristol’s lifestyle and charm. When it comes to the property market it’s the city centre locations that have been racing ahead, the diverse local economy is ahead of its counterpart locations such as Cheltenham (6.4% house price growth), Exeter (5.8% house price growth), Bath (4.7% house price growth) and Winchester with a small growth of 1.7% growth over the last year. According to Knight Frank (October, 2017), Bristol is way ahead with 7.4% growth over the last year.
It is little wonder why Bristol has become so popular with home seekers, as Britains fastest-selling property market, homes on average take just 34 days ‘subject to contract’ to sell – making Bristol one of the speediest property markets in the UK. The regional city offers good career opportunities, a contemporary lifestyle and a good standard of living that appeal to those who have been priced out of the capital’s property market.
Strutt & Parker research shows that compared to the UK average of 61 days to sell, 63 in London and 93 in prime central London locations, Bristol in Somerset is headlining the property market. A sizeable proportion of metropolitan middle-class Londoners are leaving the capital for a city that has most of the benefits. Plus, you get more for your money, despite the buoyant market!