With offices based in BS7, at City Rental Services we’ve seen the rise and rise of this part of Bristol in the last 18 years as a prime location for Bristol landlords looking to build rented property portfolios in the city.
But why is BS7 so popular? Despite the fact that buying homes remains prohibitive for many people in Bristol, as well as the flexible housing requirements of a more mobile workforce than ever before, BS7 is booming for the rented property market in Bristol for property investors.
Some of the reasons for the success of BS7 for both landlords and tenants include:
* Property Buyers – most of the buyers who are active in the marketplace are using their own funds, and are looking for at least a 10% yield from good quality properties. The poorer the property, the higher the yield they require.
* Market Statistics – the Land Registry figures show growth in residential property values or approximately 9% between 2008 and 2012.
* Mortgage Availability – the shortage of funds available for ‘Buy to Let’ mortgages has meant that cash purchasers form the majority element of growth in Bristol landlords increasing their portfolios across BS7.
* Market Price Variations – prices in the Victorian parts of East Bristol rose to their 2007 heights, and in some cases exceeded this, by the end of the first quarter of 2014. Additionally, Horfield, Bishopston and St Andrews have all moved forward, now realising prices in excess of the 2007 market high.
So, BS7 continues to offer both good quality rented accommodation in Bristol, as well as excellent investment returns for portfolio landlords this year.
If you’re looking for rental properties in BS7, call in to 58 Gloucester Road to see us.