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Bristol second only to London for home buyers

Home buyers are going west in their quest for a new home with Bristol the UK’s most sought-after area outside of London.

Figures from Rightmove reveal that visitors to its site searched for property in Bristol more than any other town or city in 2019, London aside.

Bristol topped the list of most-searched-for cities for potential buyers ahead of York, Glasgow, Edinburgh and Sheffield.

Within London itself, Wimbledon was the most-searched-for area.

Vibrant centre

Miles Shipside, Rightmove director, said: “There’s high demand for suitable housing in Bristol and the surrounding area, as it’s a vibrant regional centre with a strong local economy.”

“Historically, there has not been enough new house-building to cope with the shortage of homes. That resulted in prices rising at a faster pace than many other cities in the UK.

“In the last year, the price of property coming to market in Bristol has risen by 2.3 percent, well above the national average of 0.8 percent.

“Though this is good news for those already on the property ladder, it makes it harder for first-time buyers to get on to it. These are dynamics that are likely to continue, making Bristol a good place to invest.”

Higher asking prices for buyers

In Bristol, the average asking price of a property is £316,410. Asking prices rose by 2.3 percent in 2019.

Homes for sale in the city spent an average 50 days on the market in 2019. That made the city the fastest selling in the south-west.