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Bristol tops list of housing market hotspots in past decade

Vicky Shaw, PA Personal Finance Correspondent
·5-min read

Homeowners in Bristol are the housing market’s biggest “winners” of the past decade, according to analysis by a property website.

Rightmove analysed changes in average asking prices between September 2010 and September 2020.

Looking outside London, it found that six of the top 10 locations where asking prices have increased the most over the past 10 years are in Bristol.

Easton in Bristol, has seen the biggest 10-year surge, with asking prices more than doubling (a 120% increase) over the past decade.

The current average asking price in Easton is £283,397. This is an increase of nearly £155,000 from 10 years ago, Rigthmove said.

Balloons floating over the Clifton suspension bridge in Bristol
Balloons floating over the Clifton suspension bridge in Bristol (Ben Birchall/PA)

Rightmove’s director of property data Tim Bannister said: “Demand for property in Bristol is exceptionally strong right now.

“Average asking prices across Bristol as a whole are up by 60% over the past decade and it’s one of the UK’s most thriving regional centres.

“Bristol has a highly diverse mix of housing stock and is a city where a number of tech companies have based themselves, making it a very attractive place to move to for many buyers.”

The five other Bristol locations in our top 10 are Whitehall, Totterdown, Eastville, Arnos Vale, and Redcliffe. Swanscombe and Stone in Kent, and Tilbury and Vange in Essex, complete Britain’s top 10 hotspots outside London.

Andrew Morgan, director at Hollis Morgan Estate Agents & Auctioneers, said Bristol has good transport links, adding: “I also think, more recently, the working from home revolution has led to an even greater desire for people to move to Bristol.

“People can technically base themselves in London whilst actually work remotely in Bristol. People are now very aware of wanting access to outdoor space and we have that in abundance here.”

Glynis Frew, CEO of Hunters Estate Agents, said: “Bristol has long been known for its cosmopolitan nature and quality of life and over the past 10 years has gradually been drawing people from London who realise they can have a similar lifestyle at a more affordable price.

“For example, Clifton resembles leafy west London, while Southville feels like Hackney or Peckham and is popular with young professionals and creatives.

“Bristol has an ideal mix of strong local economy, two leading universities, excellent schools, green spaces and a vibrant cultural and foodie scene which people really love.”

An estate agents office in Walthamstow
An estate agents office in Walthamstow (John Stillwell/PA)

Looking within London, Walthamstow has seen the biggest asking price boom, with average price tags up by 117% since September 2010.

The London top five also includes Peckham, (up by 107%), Tottenham (106%), Forest Gate (104%), and Elephant and Castle, (103%).

Nationally, average asking prices have risen by £93,046 in the past years, from £226,950 in September 2010 to £319,996 now – a 41% increase.

Regionally, London and East of England have seen the biggest 10-year growth in average asking prices, up 62% and 48% respectively.

Meanwhile, average asking prices in Wales have risen by 26% compared with September 2010, and in Scotland, they are up by 21%.

The places where average asking prices have not yet recovered from 2010 are primarily in Scotland and the North East, Rightmove said.

Nairn in Scotland (down by 15%), and Linthorpe in Middlesbrough (down 12%), have seen the biggest decreases in average asking prices since September 2010.

Here are the locations with the top 10 biggest increases in average asking prices since 2010, outside London, according to Rightmove. Figures show the average asking price in September 2020 and the percentage change since September 2010:

1. Easton, Bristol, £283,397, 120%

2. Swanscombe, Kent, £327,106, 106%

3. Whitehall, Bristol, £295,574, 102%

4. Tilbury, Essex, £251,204, 97%

5. Totterdown, Bristol, £308,055, 88%

=6. Eastville, Bristol, £278,432, 86%

=6. Arnos Vale, Bristol, £357,047, 86%

=8. Redcliffe, Bristol, £357,149, 82%

=8. Vange, Essex, £270,065, 82%

10. Stone, Kent, £322,911, 81%

And here are the top 10 locations with the biggest decreases in average asking prices since 2010, outside London, according to Rightmove:

1. Nairn, Scotland, £197,981, minus 15%

2. Linthorpe, Middlesbrough, £128,352, minus 12%

3. Shildon, Durham, £95,602, minus 10%

=4. Kilwinning, Scotland, £100,225, minus 9%

=4. Johnstone, Scotland, £110,115, minus 9%

=6. Felling, Gateshead, £110,293, minus 8%

=6. Ferryhill, Durham, £93,026, minus 8%

=6. Galashiels, Scotland, £136,447, minus 8%

=9. Wigton, Cumbria, £175,773, minus 7%

=9. Peterlee, Durham, £100,492, minus 7%

Here are the biggest increases in average asking prices since 2010, in London:

1. Walthamstow, £503,651, 117%

2. Peckham, £555,699, 107%

3. Tottenham, £465,902, 106%

4. Forest Gate, £479,363, 104%

5. Elephant and Castle, £510,139, 103%

6. Deptford, £483,917, 101%

7. Hackney, £617,306, 100%

=8. West Norwood, £560,381, 99%

=8. Leyton, £531,471, 99%

10. Stratford, £454,613, 98%

Here are the areas with the smallest increases in average asking prices since 2010, in London:

=1. Victoria, £1,272,534, 12%

=1. Chiswick, £979,533, 12%

3. Notting Hill, £1,194,792, 24%

4. Knightsbridge, £3,743,762, 26%

=5. Bayswater, £1,223,803, 28%

=5. Highgate, £1,206,951, 28%

=7. Kensington, £2,077,595, 30%

=7. Chelsea, £1,891,949, 30%

9. East Sheen, £1,013,191, 32%

10. Hampstead, £1,456,710, 34%

And here are the regional average asking prices and the 10-year percentage increase since 2010:

– East Midlands, £242,555, 40%

– East of England, £363,521, 48%

– London, £633,269, 62%

– North East, £162,955, 11%

– North West, £212,977, 26%

– Scotland, £168,272, 21%

– South East, £417,918, 43%

– South West, £322,434, 35%

– Wales, £212,382, 26%

– West Midlands, £243,765, 38%

– Yorkshire and the Humber, £210,128, 28%