The city centre flat boom in Bristol – and how much prices have risen

the city centre flat boom in bristol and how much prices have risen - The city centre flat boom in Bristol - and how much prices have risen

Homeowners in Bristol are turning to flats – as property prices put houses out of their reach.

The number of flats and apartments sold in the city has rocketed since the start of the decade, new analysis shows.

The city centre has seen a particular surge in flat sales, with the number rising from 241 in 2010 to a peak of 568 in 2017.

Across Bristol as a whole, there were 2,615 flat sales in 2018 compared to just 1,679 in 2010.

 

But be warned, while flats might often provide a cheaper option than a house, prices have started to surge as well.

So far this year, the average Bristol flat has sold for £222,000 – up 39 per cent compared to £159,995 in 2010.

The rise has been even sharper in popular postcodes, with BS6 up from £190,000 to £290,000, BS2 from £135,000 to £213,750, BS7 up from £150,500 to £240,250, and BS13 from £80,000 to £143,500.

The analysis is based on official Land Registry records of more than 20,000 flat sales in Bristol this decade.

And it isn’t just Bristol that has seen a rise in city-centre living.

 

Birmingham, for example, saw 155 flat sales in 2010 in the B1 postcode, with an average sale price of £127,000. The first half of 2019 has already seen 456 flat sales in the area, at an average of £191,950.

the city centre flat boom in bristol and how much prices have risen 1 - The city centre flat boom in Bristol - and how much prices have risen

the city centre flat boom in bristol and how much prices have risen 1 - The city centre flat boom in Bristol - and how much prices have risen

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Leeds has seen average flat prices in LS1 rise from £140,000 at the start of the decade to £193,750 now.

Manchester has seen average flat prices in M1 rise from £150,000 at the start of the decade to £210,000 now. M4 – another central Manchester postcode – has witnessed a price rise of 66 per cent, from £119,875 in 2010 to £200,000 in 2019.

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