New research by property website Rightmove has found Bedminster in Bristol to be one of the UK’s most competitive locations for accommodation in Britain.
Data reveals there has been a 128% year-on-year increase in housing demand in Bedminster, only beaten by year-on-year increases in five other areas throughout the United Kingdom.
Prices also increase for the average asking price in Bedminster. The average property costs around £360,256 to buy, up 9% year-on-year.
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Bedminster are only beaten by five places in the UK. Shirley in Solihull, Jesmond in Newcastle Upon Tyne, Chorlton Cum Hardy in Greater Manchester, Stratton in Wiltshire and Woodley in Berkshire.
There is currently a huge transformation underway in Bedminster with plans for hundreds of properties to be built on the new Bedminster Green. It has become the region’s biggest transformation since World War II and is the perfect time given the excess demand.
It comes as data reveals there are now more than twice as many buyers as sellers active in the market, which is the biggest mismatch between supply and demand on record this time of year. ‘year.
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Tim Bannister, property data director at Rightmove, said: “Over the past year, the imbalance of supply and demand has led to greater competition between buyers in many parts of Britain. The data highlights that as pandemic restrictions have been lifted, competition has increased the most in areas just outside Birmingham, Newcastle and Manchester, as more people seek to move closer to the cities , whether for work or for their lifestyle.
“As some regions have experienced a more sustained imbalance of supply and demand than others, the impact on the change in asking price to date varies. Currently, we are seeing more than twice as There are more buyers than sellers in the market – which is good news if you’re looking to sell, because you’ll likely come across several potential buyers to choose from for your home.
“For those looking to buy and navigate today’s fast-paced and competitive market, agents report that ‘strong buyers’ – those who have already found a buyer for their current property, subject to a contract – are more likely to succeed in securing the property they really want.
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