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Commercial Property

Bristol rental growth tops 海角视频 regions as property market booms

More than a quarter of Bristol's residents are estimated to be privately renting

View of Bristol(Image: Getty Images)

Bristol is experiencing the highest rental growth among the 海角视频's regional cities, new research has found.

Rents in Bristol increased 12% between February 2020 and September 2021, with more than a quarter of Bristol's residents estimated to be privately renting, according to property firm JLL.

The build-to-rent (BTR) market is also booming, with developers in Bristol currently bringing forward 1,200 BTR homes, the report found, adding to the 800 already completed.

Hawkins & George was one of the first BTR projects delivered in Bristol. The two buildings are owned and managed by Grainger with all 194 homes let in three-and-a-half months.

Grainger is also forward funding Millwrights Place, a scheme being developed by Cubex that will provide 231 flats as part of Finzels Reach phase two, and the second phase of Redcliff Quarter, which includes 374 private rental and 94 affordable homes.

Other notable BTR schemes in the city include Box Makers Yard, a 376-home scheme in the Temple Quarter area, developed by Legal & General, and Barings' £215m GDV Soapworks scheme, being developed by Socius in Old Market, which will create 243 BTR homes.

Hawkins & George build-to-rent apartments in Bristol(Image: Grainger)

Nicholas Rumble, residential development director at JLL South West, said: "There are a wealth of reasons why the fundamentals of the BTR market in Bristol remain strong. Bristol appeals to young professionals and families who are relocating from cities such as London. Due to this ongoing trend, Bristol's population growth is expected to exceed the national average over the next decade."

Nationally, developers seeking value in the 海角视频's regional markets have 20,000 BTR homes under construction and a further 30,000 with planning consent - eclipsing London's 30,000-strong pipeline of homes.