Bristol tops the UK property hotspot list for the past 10 years

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An area of ​​Bristol tops the list of locations in the UK that have experienced the biggest increase in asking prices for property in the past 10 years, a report revealed today.

Easton, an inland suburb north-east of the town of West Country, has seen its average asking price for a house soar 120% to £ 283,397 since 2010, according to Rightmove. According to the property’s website, it is the hottest place in the UK for the past decade.

And six areas of Bristol topped the top 10 locations outside of London for asking price inflation, with locations in Kent and Essex taking the other spots.

Bristol had six of the top 10 areas outside London for price increases requested over the past 10 years, according to Rightmove

Nationally, London venues topped the top 10 list, although the capital’s hottest area, Walthamstow, is still second after Easton with a 117% price increase.

Rightmove analyzed the evolution of average asking prices between September 2010 and September 2020. It is therefore not necessarily the amounts for which the properties were finally sold, as recorded by the cadastre.

Rightmove Real Estate Data Manager Tim Bannister said: “Demand for real estate in Bristol is exceptionally strong at the moment.

“Average asking prices in Bristol as a whole have increased by 60% over the past decade and it is one of the UK’s most successful regional centers.

The ten biggest increases in average asking prices since 2010, outside of London

The ten biggest increases in average asking prices since 2010, outside of London

Top 10 biggest increases in average asking prices since 2010, in London

Top 10 biggest increases in average asking prices since 2010, in London

“Bristol has a very diverse mix of housing and is a city where a number of tech companies have established themselves, making it a very attractive location for many buyers.

The other five Bristol locations in the “Outside London” top 10 were Whitehall, Totterdown, Eastville, Arnos Vale and Redcliffe. Swanscombe and Stone in Kent, and Tilbury and Vange in Essex, round out Britain’s 10 best hot spots outside of London.

Swanscombe is home to the main Ebbsfleet International high speed rail link to the capital. The area has been making headlines since last year as a proposed site for the London Resort, a £ 3.5 billion theme park dubbed ‘British Disneyland’.

Swanscombe in Kent, one of the best hot spots outside of London, recently made headlines as a proposed site (pictured) for the London Resort, a Disneyland-style mega-theme park.

Swanscombe in Kent, one of the best hot spots outside of London, recently made headlines as a proposed site (pictured) for the London Resort, a Disneyland-style mega-theme park.

Andrew Morgan, director of Hollis Morgan Estate Agents & Auctioneers, said Bristol was well served by transport, adding: “I also think that more recently the work from home revolution has led to an even greater desire to relocate. in Bristol.

PROPERTY HOTSPOTS

Area (London unless otherwise indicated), average asking price, evolution over 10 years

1. Easton, Bristol, 283 397 £, 120%

2. Walthamstow, 503 651 £, 117%

3. Peckham, 555 699 £, 107%

= 4. Swanscombe, Kent, 327106 £, 106%

= 4. Tottenham, 465,902 £, 106%

6. Forest Gate, £ 479,363, 104%

7. Elephant & Castle, 510 139 £, 103%

8. Whitehall, Bristol, 295 574 £, 102%

9. Deptford, 483 917 £, 101%

10. Hackney, 617 306 £, 100%

Source: Rightmove

“People are now very aware of wanting to access outdoor space and we have it 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 drawn people to London who realize they can have a similar lifestyle at a more affordable price. price.

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

“Bristol has an ideal mix of a strong local economy, two top universities, excellent schools, green spaces and a vibrant cultural and food scene that people really love.

Looking to London, Walthamstow saw the biggest spike in asking prices, with average prices up 117% since September 2010.

London’s top five also include Peckham (up 107%), Tottenham (106%), Forest Gate (104%) and Elephant and Castle (103%).

Walthamstow was London's leading inflation zone in terms of asking prices over the past decade, according to Rightmove, and second only to Easton in Bristol nationally.

Walthamstow was London’s leading inflation zone in terms of asking prices over the past decade, according to Rightmove, and second only to Easton in Bristol nationally.

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

Regionally, London and the East of England experienced the strongest growth in ten-year average asking prices, up 62% and 48% respectively.

The ten biggest drops in average asking prices since 2010

The ten biggest drops in average asking prices since 2010

Nairn, near Inverness, in the Highlands of Scotland, is home to Cawdor Castle, which houses scenes from Shakespeare's Macbeth.  According to Rightmove, Nairn is the region in the UK where asking prices have held up the least well over the past 10 years, dropping 15%.

Nairn, near Inverness, in the Highlands of Scotland, is home to Cawdor Castle, which houses scenes from Shakespeare’s Macbeth. According to Rightmove, Nairn is the region in the UK where asking prices have held up least well over the past 10 years, dropping 15%.

Meanwhile, average asking prices in Wales are up 26 percent from September 2010, and in Scotland, they are up 21 percent.

The places where average asking prices have yet to recover from 2010 are mainly in Scotland and the north-east, Rightmove said.

Nairn in Scotland (down 15%) and Linthorpe in Middlesbrough (down 12%) saw the biggest drops in average asking prices since September 2010.

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

Tilbury in Essex was the fourth non-London hotspot, with asking prices up 97% since 2010.

Tilbury in Essex was the fourth non-London hotspot, with asking prices up 97% since 2010.

Ten-year regional change in average asking prices since 2010

Ten-year regional change in average asking prices since 2010

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