Bristol has been named as the best place to live in Britain, according to a 2017 guide by the Sunday Times. The annual list considers such factors as crime rate, school performance and house prices, with Bristol seeing off stiff competition to take this year’s prize.
Buy-to-let investors looking at Bristol property should hereby be confident that demand for rental homes is strong. A high-quality of life creates jobs, increases commerce and boosts the local economy, meaning you’ll attract tenants who’re willing to stay in the area long-term.
We’ve put together eight reasons why Bristol topped the Sunday Times poll to become the best place to live in the UK.
1. Quality of Life
Bristol has something for everyone, from idyllic landscapes to a host of trendy bars and restaurants. In recent years, this has been supplemented by low unemployment, excellent public services and falling crime rates.
2. Local Economy
Continued investment in Bristol shows confidence remains in the area. The local economy grew by 2.4% in 2016 to be worth £13.6 billion, with a further increase of 15.7% expected by 2026. One example comes with the Bristol Temple Quarter development, creating nearly 20,000 jobs and adding a further £100m a year to the city’s already booming economy.
The Sunday Times poll found that Bristol offers a “glamorous, creative, hi-tech and professional” variety of jobs, with an above average UK wage of £23,000 per annum. Graduates are increasingly likely to find work in the region and then rely on the rental sector for somewhere to live.
Bristol comprises two major universities, the University of Bristol and the University of the West of England, as well as a host of colleges. This creates fantastic demand for accommodation, especially in areas near to university buildings, bars and local amenities.
Bristol was praised for being “handily placed for seaside and scenery” but “hardly cut off at the same time”. You’re only a short drive away from gorgeous beaches and holiday resorts, whilst journey times to London, Cardiff, Plymouth and Birmingham can all be made in under two hours via train.
As noted, Bristol isn’t cut off from the rest of the UK despite its ‘independent’ attitude. The M32 runs directly into the centre, with the M4 and M5 close by as well. Buses serve the city centre well, with an impressive number of urban cycle routes also.
There are plenty of attractions in the city, notably Bristol Zoo, Brunel’s SS Great Britain and the Clifton Suspension Bridge, along with a host of parks, museums, religious sites and activity centres. Looking for somewhere to eat? Bristol can compete with any city in the UK for its cuisine options, as noted on the Visit Bristol website.
8. Property Hotspot
With a steady supply of students and young professionals, the buy-to-let sector in Bristol is booming. As the city continues to attract investment and provide a high-quality of life, the likelihood of people remaining is strong. The property market as a whole is forecast to perform well in 2017 and is currently outpacing London with a 9.2% annual price growth.
Bristol isn’t the only city in the South West that is hot for property investors right now. Check out these 5 Reasons Why Now is the Time to Invest in Plymouth.