00:00Bristol's property market is showing signs of cooling after a period of rapid growth,
00:06but the city's housing prices remain among the highest in the south-west. According to
00:11the latest data, the average house price in Bristol is now over £330,000, a figure that's
00:1912% higher than this time last year.
00:21This is a major long-term goal and possibly a goal that might not happen.
00:31I'd say for people in their 20s and 30s, it's just such a mixed bag. Some people are really on it,
00:37they're there, they've got a house, and others, most of my contemporaries, we're renting and just
00:45going kind of like month by month. I think it's great to aim for this, but perhaps not that realistic
00:52anymore. And it's not because we're buying avocados, you know? So yeah, I think in main cities,
01:03it's getting a bit astronomical. But I also think there's a social expectation around it,
01:11and actually in a lot of countries in mainland Europe, people don't buy, they just rent for a
01:17long, long time, and they have slightly more secure renting contracts and stuff. But I also think it's
01:26great to own your own home if that's what you want, but it shouldn't be an expectation or a must.
01:30And actually in a lot of places outside the UK, it's not really like that.
01:35No, I always thought that was quite riskable, actually. I've been looking at the estate
01:39here, you throw there over a million, so 380,000 doesn't sound too bad.
01:44This rise puts Bristol well above the national average, reflecting its popularity as a vibrant
01:49city with strong employment opportunities and excellent transport links. However,
01:56experts warned that the rate of increase is slowing down. Over the past few months,
02:01the market has seen fewer sales and longer times on the market, as buyers grow more cautious
02:08amid rising interest rates and economic uncertainty. I suppose they are, but I don't know what could
02:15be done about it, really. There's a limited amount. I mean, if they had hundreds of houses,
02:20then they could come down in price. While the average price remains high,
02:24this cooling trend may give first-time buyers a better chance to enter the market after years of
02:31intense competition and soaring costs. Certain areas of Bristol have experienced sharper price jumps than
02:39others. I think only if they get themselves into the hands of moneylenders and or the bank of mum and
02:51dad in which they have to, in which they, so that puts things into a class structure.
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