Salary Needed to Buy a Home in Bristol Approaches £65,000 Annually
To buy a home in Bristol, you’ll need an annual salary of about £64,560. This is significantly higher than the average in the South West.
Bristol, South West, UK, House Prices, Real Estate
Bristol: You’ll need nearly £65,000 a year to buy a home here. A property website reports that the average house price is about £341,800. This is £30,000 more than the average in the South West.
The average house price in the South West is £314,000. That’s a rise of £3,700, or 1.2%, in 2024. So, homes in Bristol are pricier than in the rest of the region.
Zoopla says the UK housing market is off to a strong start in 2025. Buyers are rushing to avoid higher stamp duty rates coming in April. Sales are up by 12% compared to last year, with more homes available.
House price inflation in the UK is at 2%. This is higher than the South West’s 1.2%. The average UK house price is £267,700, which is £74,100 less than in Bristol.
The autumn Budget announced that stamp duty reliefs will end in April 2025. This has led to a surge in first-time buyer interest. Many renters are now looking to buy due to rising rental costs.
Richard Donnell from Zoopla notes that the start of the year often predicts market trends. He believes 2025 will be better than the previous two years, with more people wanting to move.
He adds that most first-time buyers will still pay no stamp duty from April. The extra costs for homeowners are manageable and won’t drastically affect sales.
Malcolm Prescott from Webbers Estate Agents says January has been positive in the South West. There are many new listings and sales, especially for eco-friendly homes in North Devon and Cornwall.