Housing prices in Bristol have risen faster than any other major British city in the last five years, according to newly released data from Hometrack.
The index reveals an 8.9 percent increase in Bristol’s property prices each year from April 2013, to reach the current average of £278,700.
This has surpassed London’s 8.6 percent rise. Admittedly, London's average housing cost is still much higher at £487,600.
Hometrack’s report shows Bristol performing two percent higher than the national average of 4.9 percent growth across the 20 assessed cities over the past five years.
The figures show just how desirable a place Bristol is to live. The latest population statistics demonstrate an average growth of 1.1 percent every year over the past 10 years – compared to the 0.8 percent nationwide.
But with higher prices and more competition than ever, first-time homebuyers have it particularly tough in Bristol.
Thankfully, there are many homes available in and around Bristol with Help to Buy assistance available.
Redrow Homes South West has three such developments – Lawrence Green in Stoke Gifford; Frenchay Park and Gardens in Frenchay; and Abode in Bedminster.
As well as Help to Buy, Redrow Homes offers its own ‘Mastermove’ scheme. This supports potential house buyers who need to sell their home too, by arranging valuations, appointing estate agents and taking care of all the paperwork. Redrow will even help towards the estate agent’s fees.
Meanwhile, those that own a home that is 35 per cent lower than the value of a new build Redrow home they wish to buy, can use part exchange to make the moving process easier.
Sales director at Redrow Homes South West , Hannah Pollard, said: “With the market booming in Bristol it is essential that we offer support to those wishing to buy a Redrow home.
“The city has so much to offer and the growing interest we experience in our Bristol developments shows no signs of stopping.
“We are proud to offer homes at our hugely popular Abode development in the prime location of Bedminster below Bristol’s average price – it’s one of our fastest ever selling sites.”
Source: Bristol Live