Bristol’s apartment rental growth surges

Bristol’s apartment rental growth has surged in the past five years as demand continues to outstrip supply, according to research from property advisor JLL.

The ‘Big Six’ research, which tracks residential development activity, prices and rents across Manchester, Birmingham, Leeds, Bristol, Edinburgh and Glasgow, highlighted continued demand from young professionals and both domestic and international students as Bristol’s key drivers for its 32% increase in rental prices over the past five years.

Sales prices in Bristol recorded a 1% rise for the year, while prime two-bed flats in the city centre increased in price by 1.1%.

The increase in rents more broadly across the ‘big six’ demonstrates not only the demand for city centre living but also the need for more homes, though Bristol also faces an acute need for more housing covering all tenures.

Nicholas Rumble, director of residential development in Bristol, said: “Bristol’s ongoing economic growth and reputation as one of the best places to work and study in the South West means demand remains high, and is unlikely to wane.

“What’s needed now is a more stable economic and political backdrop that provides investors with the confidence to make long-term decisions.”

Marcus Dixon, director of UK residential research at JLL, said: “Sustained demand for city centre living has supported growth in prices and rents for new homes in most markets across the Big Six.

“The UK’s housing market continues to show resilience, that, along with the outlook for 2025 and beyond, should give investors and developers optimism.”