Bristol house prices: The five most expensive areas to buy property in the city revealed

The five most expensive areas to buy a property in Bristol have been revealed as house prices soared by tens of thousands of pounds in the city last year.

The Office for National Statistics data shows the median house price hit £314,000 in Bristol in the year to June 2021 – an increase of £38,500 compared to the previous 12 months.

House prices in the city were also above pre-pandemic levels, with the average standing at £267,000 in the year to June 2019.

The surge in house prices is said to be down to the impact of the coronavirus pandemic, which prevented house sales during the first lockdown, coupled with stamp duty holidays.

These neighbourhoods in Bristol recorded the highest median house prices in the year to June 2021:

1) Stoke Bishop

With its high volume of detached houses which are currently in high demand, properties in the posh suburb of Stoke Bishop have skyrocketed in recent years.

The area boasts plenty of local shops and makes for an easy commute into the city centre or out of town via the M5.

The average property here will cost you around £623,000 –up from £529,000 in 2019-20.

2) Westbury-on-Trym

Westbury is another sought after location due to its close proximity to the city centre (without being too close) as well as the Westbury-on-Trym village and Henleaze High Street.

The areas also has several good schools which attract parents.

The average property in this area costs £600,000, up from £575,000 in 2019-20.

3) Westbury Park

Westbury Park is also in demand, situated just a short stroll away from Henleaze Road’s wide variety of shops, the wide expanse of Durham Downs, Waitrose supermarket and the Orpheus cinema.

The average house price in the area is £575,000 – a sizeable jump from £513,000 in 2019/20.

4) Henleaze

Henleaze touches the edge of Clifton Downs, an area hugely popular with runners, cyclists and dog walkers with around 400 acres of space to utilise.

Thanks to Henleaze High Street the area also boasts a diversity of pubs, shops, and cafes.

The average house price here is £573,000, up from £550,000 in 2019/20.

5) Redland and St Andrew’s

Tucked away from the bustling Whiteladies Road as well as the Durdham Downs, Redland remains one of Bristol’s most sought after areas.

The average house price here is £537,000, a bit of a leap from £391,000 in 2019/20.

Market set to change?

The figures from the ONS also showed the number of homes sold in Bristol rose year-on-year, from 5,810 to 6,223.

The largest proportion were in Southville, where 213 homes changed hands in the period.

Across England, residential property sales increased by 10% to 761,067.

Martin Beck, chief economic adviser of economic forecasting group EY Item Club, said while Government measures such as the stamp duty holiday brought forward house purchases last year, the market could be set to change.

He said: “The prospect of a series of interest rate rises by the Bank of England in 2022 will translate into higher mortgage rates.

“And cost of living pressures faced by households from rising inflation and taxes mean fewer people will be able to afford to borrow the necessary amount they need to buy at higher mortgage rates.”

But Mark Harris, chief executive of mortgage broker SPF Private Clients, said mortgages are still competitively priced, meaning buyers will continue to “take the plunge”.

Nicky Stevenson, managing director at estate agent group Fine & Country, said with most agents still struggling to find enough homes to meet demand, the financial pressures were unlikely to have a “significant” impact on the market.