Five Bristol neighbourhoods have made the Top Ten of UK property hotspots in a new study by Rightmove.
According to the property website, the five Bristol suburbs are among the strongest sellers’ markets in the country. The city remains popular with buyers this year and, according to Rightmove, it is consistently one of the most in-demand locations outside of London.
Bristol continues to attract increasing number of people from London because properties are considerably cheaper than those in the capital and more people have flexible/remote working, meaning they can live in Bristol and commute when needed.
Number one in the UK list is St George, where 80% of homes listed for sale so far this year have successfully found a buyer and are currently marked as Sold Subject to Contract (SSTC).
Bishopston is second in the strongest sellers’ market list with 79% and Horfield is fourth with 77%. Number five in the national top ten is Fishponds with 76% and Bedminster is number ten with 73%. The rest of the list is made up of suburbs of Newcastle-upon-Tyne, Manchester, Leeds and Port Talbot.
The average asking price for a home in St. George is £316,057, lower than the Great Britain average of £371,907. The number of available properties for sale in the UK has steadily improved this year compared with the record low levels of the pandemic market, though it remains historically constrained.
The number of properties for sale in Great Britain is still historically low despite buyer choice improving from last year and is currently 10% lower than at this time in 2019. The top buyers’ markets are all in London and the strongest buyers’ market outside of London is Birmingham City Centre, where one in four homes (25%) have been marked SSTC this year.
Knightsbridge in London is the strongest buyers’ market, with around just one in five (18%) homes listed for sale this year being marked SSTC. However, by comparison, the current average asking price in Knightsbridge is £4,017,845.
Here are the five Bristol suburbs in the top ten sellers’ hotspots in the UK.
1. St George
The east Bristol suburb of St George is the number one sellers’ market in the UK, with the average asking price for a home £316,057. In St George, 80% of homes listed for sale so far this year have successfully found a buyer and are currently marked as Sold Subject to Contract (SSTC). The area has become increasingly fashionable in recent years, with a good mix of old locals and new arrivals living there. The Church Street area has a number of excellent pubs, artisan bakeries and restaurants but also traditional shops and supermarkets. It also has one of the best parks in the city.
2. Bishopston
Bishopston is second in the strongest sellers’ market list with 79% of properties sold. According to Rightmove, properties in Bishopston had an overall average price of £567,462 over the last year. The majority of sales in Bishopston during the last year were terraced properties, selling for an average price of £575,865. Flats sold for an average of £343,520, with semi-detached properties fetching as much as £777,961. Overall, sold prices in Bishopston over the last year were 8% up on the previous year.
3. Horfield
Fourth in the UK list of property hotspots for sellers is Horfield, which is is becoming more and more popular with home-buyers. According to Rightmove, 77% of homes in the area listed for sale so far this year had sold. The average price of homes in Horfield has risen 23% from 2020, up to £457,676.
4. Fishponds
Number five in the national top ten is Fishponds with 76% of properties on the market already sold. Properties in Fishponds had an overall average price of £325,689 over the last year. The majority of sales in Fishponds during the last year were terraced properties, selling for an average price of £346,481. Semi-detached properties sold for an average of £348,677, with flats fetching £188,765. Overall, sold prices in Fishponds over the last year were 8% up on the previous year and 20% up on the 2020 peak.