Why release equity in Bristol?
Whilst the property market always fluctuates the general trend has always been upwards. If you are a homeowner who has lived in Bristol for a decade or even longer; chances are your property is now worth far more than when you bought it. In 2020, Rightmove said that homeowners in Bristol are some of the housing market’s “biggest winners” over the past ten years. With great schools, two leading universities, plenty of green spaces, many restaurants, and vibrant culture, demand for property in the area has always been high, leading to these big increases in house prices.
According to figures in 2020, the average price for a property in Bristol is around £320,000, with the most common type of property being terraced homes. The average Bristol home had risen in value over £100,000 in the last ten years and in some places, such as Easton, they had increased a huge 120 per cent over the decade. Of course, there are many larger properties and in 2020, estate agent Knight Frank said that the large Georgian houses in Clifton near the suspension bridge have increased in value by 66 per cent over the decade and many are now worth around £2million.
If you live and are settled in Bristol and do not want to downsize but wish to enjoy a more comfortable retirement, then equity release could be right for you. We are always happy to come and meet with you are your home to get to know more about your circumstances and to discuss the available options.