Navigating Bristol’s Competitive Rental Market

With its rich history and vibrant cultural scene, it’s no surprise that so many people are eager to make Bristol their home. If you are planning to move to the city or you are keen to learn more about Bristol’s rental market, you’re in the right place.

Bristol has an impressively diverse selection of neighbourhoods, each of which has its own personality, selection of amenities, and properties in different price ranges.

If you have a larger rental budget and enjoy spacious Georgian architecture, Clifton is a wonderful place to live and enjoys excellent transport links and access to beautiful green spaces. Bishopston is a family-friendly neighbourhood in Bristol, which offers an ideal balance between suburban and city living.

If you’re looking for more affordable rental options and want to explore the artistic scene that thrives within Bristol, the area of Stokes Croft has the vibrancy and amenities that will suit your lifestyle. Southville is positioned just to the south of Bristol’s city centre and is home to a good selection of restaurants, shops and cafes. Known for its boldly coloured terraced properties, rental prices are extremely competitive here for such a central part of the city.

While prices can vary depending on a range of different factors, such as the type of property you want to rent and your preferred areas, rental properties in Bristol range from £800 for a studio or one-bedroom apartment to £3,500 for a spacious four-bedroom detached property in one of the most prestigious areas of the city. According to a recent Rent Report, the average property in Bristol commands a rental price of more than £1,700pcm, with the median rent coming in at over £1,500pcm.

Top Tips For Navigating The Competitive Rental Market In Bristol

When the time comes to start navigating Bristol’s rental market, here are some of our top tips to help make your journey a little easier.

Leave Plenty of Time to Find Your Ideal Property

Bristol is an extremely popular place to live, which means that the rental market is fast-paced, and properties can be snapped up in a matter of hours. By beginning your search as early as possible, you can mitigate some of the stress involved in the moving process and secure a rental property that meets your needs.

Be Persistent

There have been many stories about people inquiring about upwards of 50 properties, only to secure just a handful of viewings and ultimately miss out to other applicants. So, a level of persistence may be required to find the right property for you.

It’s worth noting that research suggests that up to a quarter of current landlords intend to sell one or more of their properties by the summer of 2024 as increasingly expensive mortgages continue to take a toll on finances. If this does come to pass, it could impact the rental market across Bristol significantly, and we might see the competition for rental properties across the city increase further. While this isn’t something to panic about, it is important to be aware of the changeable nature of the property market, particularly in times of financial uncertainty.

Remember to Negotiate

Yes, the property marketing in Bristol is competitive, but this doesn’t mean that there isn’t room to negotiate. If you think that a property is being offered at too high a price or if you’ve noticed potential problems, you are well within your rights to provide a counteroffer to the agent or landlord.

Be Flexible

While it is beneficial to have a list of features you would like in your ideal rental property, it is also important to have an open mind and maintain a certain level of flexibility. After all, your dream rental might look very different in reality to how you thought it might on paper.

How Will The Renters Reform Bill Impact Bristol’s Rental Market?

It’s also worth highlighting that although the long talked about Renters Reform Bill has been moving through legal processes for some time, it looks set to finally become legislation in 2024. In terms of what this means for the rental sector in Bristol, let’s just say that there aren’t likely to be any significant changes any time soon.

The Conservative Party made an election promise to abolish section 21s, which allows all landlords to evict tenants on a ‘no fault’ basis for a number of different reasons. This forms a key part of the Renters Reform Bill; however, section 21 will remain available to landlords for some time to come.

Other elements of the bill that are designed to positively impact renters in Bristol include the abolition of fixed-term tenancies, with all tenants having the ability to vacate a property after giving a notice period of two months. The government has no plans to implement rent controls, however steps are being taken to prevent increased rents being used as a way to evict tenants.

How To Use Online Resources And Estate Agents In Your Property Search

One of the advantages of living in a digital age is that there are numerous online resources and tools that you can use to find your perfect rental. It is wise to use a range of tools when navigating a property market that is as large as Bristol’s, as this will ensure you aren’t missing out on any great opportunities.In addition to utilising online tools it’s also worth reaching out to professional agents, such as Hopewell, who have plenty of local knowledge and the skills to help you to find the right property in the right part of the city.