A big thank you to Ruth Bloomfield for including me and Domus Holmes Property Finder in her recent article in The Telegraph on The new property hotspots where priced-out families are moving.
Ruth says “Property hotspots are created slowly. Overlooked postcodes evolve into sought-after destinations, creating a ripple effect as buyers priced out of one area start to look for a nearby alternative that gives more bang for their buck.”
As a Bristol based property finder and buying agent, I cannot deny the fact that property prices in Bristol have been rocketing over the last 5 years and have consequently impacted many buyers, locals and upsizers in particular, who faced being out-priced. This meant for many buyers having to consider other options than Redland or Cotham for their house hunt for example.
What options then? From Redland and Cotham to Clevedon in Somerset. Here is what I said in this article:
“When buyers found themselves priced out of Bristol’s alpha neighbourhood, Clifton, they traditionally beat a path east, piling into its nearest neighbours of Redland or Cotham. These two Georgian/Victorian suburbs are now almost as expensive as Clifton village.
Recently, buyers have started looking further afield for period homes within an easy commute to the centre of Bristol and the temptation of coastal living. Buying agent Jerome Lartaud, of Domus Holmes Property Finder, said these buyers are gravitating towards the north Somerset coast,
where they can find similar period houses.
“For city workers and professionals Clevedon is a good alternative as the commute to Bristol on a daily basis is feasible, around 25 minutes on a good day; more realistically 40 minutes’ drive during peak hours. Clevedon has a strong community and coastal village feel with elegant Victorian villas, independent shops and eateries, and possibly the country’s prettiest pier.”
A home in Redland or Cotham sells for an average £560,000, up 19pc in the past five years, according to Hamptons. Clevedon’s average price has hit £398,550, up 25pc in the same period. Houses have performed particularly well in Clevedon, as first-time buyers are firmly priced out of central Bristol.
Over five years prices have jumped 27pc to an average of £439,180, while back in Redland’s BS6 postcode, flat prices are up 11pc to £792,710.
If you want to read the full article, following the link: https://www.telegraph.co.uk/money/property/where-priced-out-families-move-property-bargains/
