– Bristol has a population of 454,200.
– That’s an estimated 189,250 households.
– Repossessed houses in Bristol are in high demand.
– According to gov.uk there was an estimated 1.8 repossessions for every 100,000 households In each quarter.
– That equates to a total of 14 repossessions in 2017.
Why are you looking for repossessed houses in Bristol? Is it because you’ve heard repossessed houses come in typically between 15%-30% below market value? That’s why we look at them!
Simply, we look at assets for their investment potential. Whether you are buying Repossessions, Off Plan Developments or undervalued Buy-To-Let schemes (or even wine investment!), the important thing is that you buy at good value and ensure the asset has potential for capital growth.
There is no doubt that if investing in repossessions is something you would like to do, Bristol is a great place to start. There are two main reasons behind this: Firstly, Bristol is widely considered a great place to live – with a vibrant nightlife, great sightseeing and simply lots to do. In fact, it was voted the best place to live in the UK by the Sunday Times in 2017. Secondly, the repossession rate in Bristol is very high. This is partly due to the first point – as Bristol is becoming a place that is in demand, house prices are soaring, and now even living in rented accommodation is becoming increasingly unaffordable. The Ministry of Justice reported that in the two years leading to March 2017, 711 homes were evicted, which works out to be one every day. This is not a positive statistic, however, it does mean that there are a number of repossessions on the market in the area.
Looking for a repossessed home in Bristol?
If you are not looking for repossessions to invest in but to live in, Bristol is also a great place to look. As stated above, it’s possibly one of the best places to live in the UK. However rent prices have increased so much that it is now one of the most expensive places to rent outside of London. The mayor of Bristol, Marvin Rees, has even acknowledged the fact rent is so high and has suggested rent caps may be a solution. So if you are thinking of moving to Bristol, do not wish to pay the soaring rent prices and do not want to risk paying extortionate fees for a regular property through an estate agents, you should search the market for repossessions. Through our online notifier you will be alerted whenever there are repossessed houses for sale in Bristol, as well as any other city you wish to include. If you do not strictly have an interest in repossessions, it will also notify you when below market value (BMV) properties in Bristol appear. So you can keep looking for properties through other sources whilst being notified when repossessions and/or BMV property come on the market in Bristol.