Revealed: Most expensive, and cheapest, places to buy a house in Bristol
There is a median house price difference of more than £345,000 between the most expensive and cheapest area in Bristol
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The north and south divide in Bristol has again been highlighted after new figures were released showing the most expensive, and cheapest, areas to buy a house in the city.
Data from the Office of National Statistics shows Redland had the highest median house price in 2021 at £567,500, closely followed by Westbury-on-Trym and Henleaze (£550,500) and Stoke Bishop (£500,000).
At the opposite end of the scale, Hartcliffe and Withywood (£222,750), Filwood (£241,500) and Hengrove and Whitchurch Park (£255,000) had the cheapest median prices for homes.
The figures for Bristol, which consists of 34 council wards, were based on 6,978 house sales last year - up from 5,442 in 2020.
With 335 properties sold last year, Westbury-on-Trym and Henleaze was the busiest area, containing 5% of the total houses sold. Hotwells and Harbourside was the quietest area for sales, with just 93.
Explaining the high prices in Redland, local estate agent Sarah Clark told BristolWorld: “There are quite a few bigger houses around here and people will pay a premium to live in the Redland Green School catchment area. There’s lots of family houses still available in this area, it’s not all been turned into apartments.”
She added: “Redland is a nice area to live in for families, it’s a great community. there’s loads of really nice eateries opening here, bars and award-winning restaurants. We do have lots of students, but people seem to rub along well with them.”
Right now, in Redland, the most expensive on the market is a four-bedroom detached home in Cotham Park North, priced at £1.3m. In Henleaze, a four-bedroom end-of-terrace home in Henleaze Avenue is also on the market for £1.3m.
Meanwhile, in Moxham Drive in Hartcliffe, this three-bedroom property is priced at just £165,000.
The figures highlight a north and south divide in the city. Data from Public Health England shows those living in areas like Clifton Village and Henleaze are also likely to live much longer than those living in Withywood, south of the river.
The Centre for Economics and Business Research has stated that despite a period of rapid growth during the Covid-19 pandemic, it anticipates that high mortgage rates will cause property prices to plummet over the next 12 months.
An economist at the policy institute, Karl Thompson, expressed his view that the greatest decrease in values will come outside of London and the South East, further perpetuating the existing disparity in regional prices.
This could potentially lead to a further exodus from London and more homebuyers relocating to Bristol, the South West of England and Wales.
A reported 320,000 people left the capital to live elsewhere in the UK during the pandemic-causing migration of 2020 according to London Datastore. Another factor in rising house prices everywhere else.
Overall sales of residential properties in England grew to 821,407 at the close of last year, a whopping 21% increase from the end of 2020.