Property Prices In BS3

By Hannah2009 | Monday, February 15, 2010, 16:25

In the last housing market boom, property prices across South Bristol rose dramatically, especially in the greater Bedminster area, as buyers flocked into Southville, Windmill Hill, Ashton, Bedminster and Totterdown to take advantage of affordable, quality housing stock.

Property in BS3

Comparing the sale prices in specific streets during the last decade gives a flavour of just how big a boom it was.

For example, if you had decided to buy a terraced house in Hill Avenue, just behind St John’s Lane and facing Victoria Park, you could have expected to pay around £60,000 in 1999; in 2002, that same house would have set you back £115,000; by 2006, it had risen to over £185,000. In 2008, a property just a few doors away sold for £220,000.

Property developers also got in on the act and some of Bedminster’s landmark buildings, such as the Robinson’s factory, have been given a new lease of life. The Airpoint complex attracted a lot of attention – when the first phase of apartments there went on sale, the developers received enquiries from as far afield as Hong Kong.

Prices fell back in the recession, but not as much as some had expected, or others had hoped! The average price for a one-bedroom flat in the BS3 area is now £125,699, while two-bedroom houses command an average asking price of £188,914.

According to the Council of Mortgage Lenders, the number of first-time home buyers hit a two-year high in December 2009, although this is not necessarily a sign that the market is picking up again, as buyers were rushing to complete their deals before the temporary stamp duty holiday deadline expired at the end of the year.