Whenever looking for a house for sale in the UK or in Bristol, it is vital you look at the market trends and house price fluctuations in the wider area of Somerset too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Bristol.
In this article, we will be looking at the city of Bristol in detail so you know how to navigate the area and have a better understanding on where to invest.
Are there any important statistics about the population of Bristol?
What is the population of Bristol?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Bristol if 735867 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Bristol such as rental yield or house appreciation.
How has the population size of Bristol adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Bristol by 4%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 4% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Bristol?
In the last decade, the population of Bristol has been adjusted by 9%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
What’s the crime rate in Bristol?
For the city of Bristol, crime rate is at 11070%. So for every 1000 people in the area, 11070% commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
Are the deprivation levels of the UK any different to Bristol?
The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.
If the proportion of deprivation of Bristol is £0 and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.
Bristol in the county of Somerset is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Bristol is located in; South West.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Bristol, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
How much do people in Bristol earn?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Bristol, the average income is £45,162.96. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 29% to decide on what the demographics are like in the area.
In Bristol, how educated are people in general?
In the city of Bristol, 32% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.
Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Bristol is £45,162.96.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
How much green space is available to residents of Bristol?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Bristol, the city has 24 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Bristol.
What is a social grade score and how does this relate to Bristol?
In the city of Bristol, the social grade score of the area is 29%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Bristol.
|Social Score||Category||The proportion of the UK population (%)|
|A||Professional, managerial or administrative||4|
|B||Intermediate managerial or professional jobs||23|
|C1||Supervisory, junior managerial or professional jobs||29|
|C2||Skilled manual workers||21|
|D||Semi and unskilled manual workers||15|
|E||State pensioners, casual & lowest grade workers||8|
Always consider average rental yield when searching for houses for sale in Bristol
What is the growth in the housing market of Bristol?
Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.
Below are the forecasted growth rates for the city of Bristol at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Bristol growth rate||4%||17%||22%|
Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Bristol gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Bristol.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Bristol this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (South West) alongside Somerset then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Bristol.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Bristol.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (11) will be useful.
Are you considering other cities with houses for sale?
Below is a list of towns that differ from Bristol.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to South West:
- birtley in South West
- bassett in South West
- barbrook in South West
- barkestone-le-vale in South West
- hedley-on-the-hill in South West
If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.
A house for sale that is right for you
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Bristol.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
Asking price in Bristol for a house for sale
Average prices for the houses for sale in Bristol
|Average asking price (1 bed)||£212,862|
|Average asking price (2 bed)||£301,603|
|Average asking price (3 bed)||£401,942|
|Average asking price (4 bed)||£575,158|
|Average asking price (5 bed)||£961,085|
Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£866) for houses for sale with this table to get a good idea as to whether Bristol is the right area to buy a house in for you.
When speaking about the city of Bristol, £411,458 is the asking price for a house for sale.
We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children in Bristol would be after a larger house than someone living alone.
The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.
What is the final sale price of a house in Bristol?
As well as looking at the asking price for house for sale in Bristol, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Bristol.
Houses for sale, are sold on average in Bristol, after the influence of these factors, at £325,847 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 9% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£459,775|
|Aerage sold price (semi-detached)||£349,401|
|Aerage sold price (terraced)||£310,451|
|Aerage sold price (flat)||£202,522|
This table above shows the average sale price for each variation of houses for sale in Bristol.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,410|
|Aerage sold price/sqft (new build)||£3,512|
|Aerage sold price/sqft (old stock)||£3,289|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Bristol is £3,463.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Get professional help on the houses for sale in Bristol
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment