Four of the ten places in Britain that have seen the biggest increase in house prices in the last ten years are in Bristol, new research has revealed.
To mark the Platinum Jubilee, housing website Rightmove compared the average price of a house when it was the Diamond Jubilee in 2012 with the average price now - and Bristol features heavily in the places with the biggest increases.
The research reveals that the price of a house has effectively doubled - or gone up by around 100 per cent - in the ten years since 2012 in many parts of Bristol.
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The location with highest increase in the average asking price of a house in Britain was Margate, the seaside town in Kent where that figure jumped 107 per cent in ten years.
But close behind were four Bristol locations in the top ten - with Brislington second, St George fourth, Patchway seventh and Bedminster ninth.
In Brislington, the average asking price of a house leapt from £166,192 back in 2012 to £338,800 now - an increase of 104 per cent. The other Bristol locations weren’t far behind either. St George saw prices almost exactly double - from £146,344 to £293,269. Patchway saw prices almost double, up 98 per cent from £153,472 in 2012 to £304,606 now, while Bedminster also saw a 98 per cent increase from £186,846 in 2012 to £369,328 now.
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Of the ten locations around the country with the highest increases, those four were in Bristol, while another four were in Kent. The data released by Rightmove echoes similar research also revealed today commissioned by Plumbnation. They charted the average price of a property in 2002, when it was the Queen’s Golden Jubilee, compared to now.
Bristol as a whole city saw an overall increase of 240 per cent, with the average price of a house jumping from £97,875 in 2002 to £333,058 now. Only Manchester, Salford, Leicester and Hull saw bigger increases in the past 20 years.
Rightmove’s Director of Property Science Tim Bannister said: “In a momentous occasion for the Queen it’s interesting to see the areas where house prices have risen the most since the last jubilee celebration.
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“Homeowners in Kent are some of the biggest winners in this decade study, with four locations in the top ten, while for buyers, it’s easy to see the appeal in moving to an area near the coast for less the national average asking price. Bristol also emerges as a key hotspot, with four areas of the city also making up the top ten. With working patterns very different to that of a decade ago, it will be fascinating to see market dynamics in ten years from now, particularly in cities such as Bristol which may continue to attract more people who may have traditionally headed to London,” he added.
