If you are considering the location of your next housing development project, then Bristol is certainly an area worth looking at. This has always been a bustling city, but it is set to get even bigger and better over the coming years and it is likely to become a fantastic investment opportunity. However, as with most great investment opportunities it is best to get in early. Here are just some of the reasons why Bristol is the ideal location for your next housing development project.
It Is a Desirable Place to Live
Bristol is a popular city to live in for many reasons. The location is superb with easy access to London and Birmingham. This is great for business and employment. However, you can also use the city as a gateway to the West Country with the M5 a stone’s throw away meaning a weekend in Cornwall or Devon is within easy reach.
Bristol itself has a lot to offer the residents. Such as a myriad of shops, restaurants, and bars in the city centre. For the more culturally minded there are the theatres, galleries, and places of historic interest. You are never far from the waterfront in this city and there is an abundance of green, open spaces to enjoy. This city is extremely popular with people who want to move out of London but not forgo all the amenities that come with residing in a large city.
The Property Sales Market
Bristol offers a thriving housing market so you will make a quick sale on your development. This city is immensely popular with people who want to move out of London but not forgo all the amenities that come with residing in a large city. The housing market is in full bloom and parts of the city have enjoyed growth of over 100% in the last decade. If you want to capitalise on the growth opportunity the city offers, now is a fantastic time to do that.
The Rental Market
If you are considering investing for the long term and renting your housing development out rather than selling it straight away, then you are in luck in this city. Bristol offers the highest demand for rental income anywhere in the UK. This means that you will be able to rent your housing quickly and you should enjoy a good yield.
The HMO Market
If you have considered building housing and then renting out rooms individually you couldn’t find a better place to do so. There are two large universities in Bristol and a new influx of students looking for accommodation arrive in the city every year. This creates a buoyant HMO market, especially if you are planning on developing near one of the universities.
Bristol Business
Bristol has been a renowned hub of technology and engineering for many years, and this encourages people to move to the area. Companies such as Rolls Royce, Airbus, and Aardman Animation Studio are based here, and many people come here for the chance to work for one of these companies.
More recently the city has been growing increasingly popular with start-up businesses and entrepreneurs. The success rate of start-ups in the area is over 60%, which is a lot higher than many other places in the UK. This has been attributed to the steady stream of graduates who leave university and decide to stay in the area. They offer their enthusiasm and expertise to start-up companies and grow with them. This means that there are a larger than average number of thriving businesses around for the size of the city. This in turn attracts more entrepreneurs into the area and means that the population of the city is steadily increasing.
Trade
Trade has been thriving in Bristol for centuries. From the Victorian tradesmen who were needed to create the Clifton Suspension Bridge and Hippodrome Theatre to the modern tradespeople who have been involved with redeveloping the dock area and the waterfront. There are some excellent trade companies in the city, so you will be spoilt for choice if you are looking for local builders, plumbers, and electricians to help you develop your housing project.
Architects in Bristol are among some of the best in the country. They can certainly help you to design your project and get it off the ground. This Bristol Architect team can put you in touch with the best tradesmen in the city too, so you know your project will be of excellent quality.
The Economy
Bristol enjoys a thriving economy. It is one of the powerhouses of the UK economy and the region is expected to buck the trend and continue growing for the foreseeable future. The fact that so many students stay in the city post-graduation means that many of the residents are well-educated, well-paid, and upwardly mobile, which adds to the economic growth of the region. The employment rate in the area is above average, meaning that landlords are less concerned with their tenant’s inability to pay the rent than they are in other parts of the country.
The Future of Bristol
Bristol has a bright future. Local councils are working on a huge regeneration program in the area and have earmarked a billion pounds for the project so far. There are plans to develop the Western Harbour, increase the capacity of the train station so that it can increase passengers by up to 50%, and develop the infrastructure to cope with the array of building work they have planned in other areas. With all this going on there will be a huge demand for housing for people working on civil engineering projects and for those coming to work in the area after the development has been finished.
There has never been a better time to build in Bristol and it is one of the most thriving areas of the country right now. The future of the city makes any investment opportunity look even better. There is money to be made in this area and it is the ideal location for your next housing development project.