For many, it won’t come as a shock when seeing Bristol placed in the ‘Sunday Times Best Places to Live’ and has been for the last 12 years. But why?
1. Underpinning Bristol’s economy are global firms in the tech and engineering space. There are currently just under 5,000 tech companies in this space. Some of these firms include Airbus, Rolls Royce, Ovo Energy, Niantic, and Nokia. Firms such as Hargreaves Lansdown and Computershare also call Bristol home, employing thousands of staff.
Most recently, in May 2023, engineering firm Dyson also announced plans to build a £100m Research & Development hub in the city and employ hundreds of software engineers.
2. While the high entry cost of buying a home continues to soar, so does the rental market. The average rent in Bristol sits at £1,435 per month according to JLL. Blue chip companies will attract high earners and therefore force demand for high-quality property in and around the city. Both JLL and Savills project a 5% increase in rents in 2024. The city is undergoing one of the UK’s largest regeneration zones transforming 320 acres over the next 20 years to meet the desperate need for accommodation. An insight into the goldmine Bristol has been for investors and will continue to be is reflected in the average sales price rising from £189,155 in 2013 to £411,069 in 2024.
3. Home to a top 10 university in the UK with 3 other surrounding universities (Bath, Bath Spa & West of England Bristol) equates to over 70,000 students. Experts are predicting the need for 6,500 student beds by 2028.
The go-ahead for the new £500m University of Bristol campus near Temple Meads will become the new Enterprise Campus and home to the Business School, digital engineering research, and Quantum Technologies Centre. Around 4,600 students and 650 staff will work at the new Campus.
4. Drenched in history, stunning architecture, and desirable nightlife, it is no wonder Bristol welcomes over 9 million visitors every year. This places Bristol as the 7th most visited city in the UK.
5. MAJOR PROJECTS
Temple Quarter – A giant regeneration costing £95 million and will see a redesign around Temple Meads Train Station allowing for student flats, hotels, offices and a secondary school.
Bristol Underground – The mayor Martin Reeves is championing an underground network that would see four rail lines built, costing billions of pounds.
Bedminster Transformation – Thousands of new homes will be built over the next few years in Bedminster (walking distance to city centre) with construction already underway. This will serve further supply into the fast-growing city and revive the fragmented area.
Galleries Shopping Centre – A major redevelopment at the Galleries shopping centre will mean knocking down the shopping centre and build 450 homes and offices.
