Easton in Bristol has been crowned the top property hotspot of the decade by new research from property portal Rightmove.
The new study analysing average asking price increases of almost two million properties between September 2010 and September 2020 found that Bristol is not only home to the area with the highest average asking price rise of the decade, it is also home to six of the top ten performing areas outside of London.
Topping the table, Easton, an inner-city neighbourhood in Bristol in one of the relatively more affordable areas of the city, has seen the biggest ten-year surge of anywhere in Great Britain, with average asking prices more than doubling (up 120%) over the past decade to £283,397 – this is an increase of almost £155,000 from ten years ago.
The five other Bristol locations in Rightmove’s top ten include third place Whitehall, with an average asking price increase of 102 per cent in the ten years since September 2010, fifth place Totterdown (+88%), sixth place Eastville (+86%), seventh place Arnos Vale (+86%), and eighth place Redcliffe (+82%). Second place Swanscombe (+106%), tenth place Stone in Kent (+81%), fourth place Tilbury (+97%) and ninth place Vange (+82%) in Essex, complete the top ten areas with the largest asking price increases.
Glynis Frew, CEO of Hunters Estate Agents, explains why he thinks Bristol has performed so strongly: “Bristol has an ideal mix of strong local economy, two leading universities, excellent schools, green spaces and a vibrant cultural and foodie scene which people really love.” Adding: “The rise of flexible home working will only help to boost Bristol’s appeal going forwards.”
Rightmove’s Director of Property Data Tim Bannister, advises: “If you’re a seller who’s lived in Bristol for ten or more years, this could be a real opportunity to have a look and see if you could afford to trade up.”
In London, Walthamstow leads the asking price increase table with average asking prices in the northeast London enclave soaring by 117% since September 2010.
The other top performing London locations are Peckham, up 107 per cent; Tottenham, up 106 per cent; Forest Gate +104 per cent and Elephant and Castle, up 103 per cent.
In fact, cross the capital, every location in Rightmove’s data set saw prices increase over the decade from September 2010.
Nationally, Rightmove’s research shows that average asking prices have risen by £93,046 in ten years, from £226,950 in September 2010 to £319,996 now, which equates to an increase of 41 per cent.
Regionally, London and East of England have seen the largest ten-year growth in average asking prices, up 62 per cent and 48 per cent respectively.
Meanwhile, average asking prices in Wales have risen by 26 per cent compared with September 2010, and in Scotland, they’re up by 21 per cent.
The places where average asking prices haven’t yet recovered from 2010 are primarily in Scotland and the North East. For example, Nairn in Scotland, saw average asking prices fall by 15 per cent over the decade, while prices in Linthorpe in Middlesbrough, were down 12 per cent.
This data certainly tells the story of the property prices winners and losers over the decade. We wonder if Bristol will continue to boom when the next decade’s data is released in 2030.