Bristol is now one of the best-performing housing markets outside of London, with property prices rocketing in the last 14 years.
Average house prices in the city have risen by 90 per cent since 2005 – up on the national average of 48 per cent - according to a new report by estate agency Savills. This makes Bristol the fourth-strongest market outside the capital – behind Cambridge, St Albans, and Three Rivers. However, the city's property market has slowed down in recent years, with price rises totaling 11 per cent since the Brexit vote in June 2016. Lucian Cook, head of Savills residential research division, says weaker sentiment since the referendum had caused a "ripple of caution" spilling out from London. "On a purely economic basis, the country is in good shape," he said. "Unemployment is low, the price of borrowing is low and wages are rising. "However the property market has been driven by sentiment which, in the face of political uncertainty caused by Brexit, has stalled growth.”
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