Relocating to Bristol: the lettings market

Bristol is the largest and most popular city in the South West of England.

It holds a Royal charter and unusually has county as well as city status. It is emerging as a centre of retail excellence and trade, as well as having a thriving tourism industry and the red brick University of Bristol.

When you add all these factors together, you result in a unique lettings market that is under mounting pressure from rising tenant demand.  Letting agents are finding that rents agreed on new rentals are increasing, especially for modern properties that are easy to maintain and turn‐key ready. Local lettings agent Atif Javid at Intire Lettings is quick to highlight figures from the Office for National Statistics, showing that only 176 news rentals in Bristol are coming on every month while the population in the city is rising by almost 400 every four weeks ‐ highlighting the supply and demand imbalance.

 When it comes to rents in Bristol, Zoopla has the average per calendar month rent at just over £2,000. Interestingly, the average rent for a one‐bedroom house is almost half that of the rent for a one‐bedroom flat (£425 pcm versus £820 pcm). Family friendly properties in Bristol command rents in the region of £1,300 to £1,500 per calendar month, which secures a three‐, four‐ or five‐bedroom property in a desirable location.

Bristol is made up of lots of quarters and districts, which need to be understood when relocating clients. Choosing the right area is crucial but it takes time to learn about each area's qualities and the lifestyle they might offer new residents. The city centre and the old city are quite rightly desirable but you'll need to navigate the student lets. Families are well catered for, especially in North Bristol ‐ which has been likened with the yummy mummy parts of North and South West London ‐ worth remembering if you're relocation families who are used to modern city life. Areas including St Andrews, Montpelier, Southville, Knowle, Totterdown, Cotham, Bishopston are well thought of.

For drama and history, Clifton is a sure‐fire hit, with Georgian and Regency period properties, views over the Downs and close proximity to the suspension bridge. Handsome suburbs include Stoke Bishop and Sneyd Park while Harbourside is great for rental properties as it's awash with new build developments. Rural charm can be achieved in Leigh Woods and Abbots Leigh, with Bristol Airport not too far away.

Keir Jones at destination service provider ARPM Relocation finds that unpicking the Bristol lettings market is a specialist skill: "Although Bristol is a city, it's also a county and covers a large area. There's a district for everyone ‐ whether they want city life, to be near the coast or just a short drive away from rural Somerset. The key is research, research, research ‐ indentifying the USPs of all the different areas and matching them with client requirements."

If you'd like more advice on understanding Bristol and its lettings market, contact ARPM Relocation 

 

today.

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