The hottest property location in Britain this year was a neighbourhood in Bristol, South West England, according to Rightmove.

Easton, northeast of Bristol city centre, stood out in a buoyant national market, with more than eight out of ten properties for sale sold subject to contract (SSTC).

Analysis by the UK’s largest online retail property portal revealed that four of the top ten seller’s markets were located in or near the city.

London, on the other hand, topped the list of areas with the lowest demand.

In Hoxton, near the capital’s financial district, nine of ten homes listed on Rightmove this year are still available.

The disparity may be due, in part, to financial constraints. The average asking price in Hoxton is nearly £625,000, which is more than double the price in Easton.

“Houses in the £250,000 or below bracket were the best performing for sellers this year, with more than three quarters finding a buyer and being marked SSTC,” Rightmove said.

Bristol is a hub for aerospace and technology located approximately 193 kilometres west of London. During the pandemic, it saw a significant increase in demand as thousands embraced new freedoms to work from home.

YTL Developments (UK) Ltd’s Brabazon, a mixed-use development scheme at the former Filton airfield, is expanding in north Bristol.

The 354-acre Brabazon, YTL Developments’ first major UK mixed-use scheme, will take more than ten years to complete. It will have 2,675 units when finished, including studio, one, two, and three-bedroom apartments, as well as two, three, and four-bedroom houses.

Brabazon will consist of several components that will be developed in stages, including 62 acres of employment space and parkland.

The Hangar District is the first phase, with a total of 302 houses and apartments.

YTL Developments sold 75 per cent of the first batch of 40 houses and apartments it released earlier this year.

The two- to four-bedroom houses range in size from 871 to 1,687 square feet, while the one- and two-bedroom apartments range in size from 530 to 815 square feet.

A one-bedroom apartment costs £219,500, while a two-bedroom unit costs £298,500. Three-bedroom houses start at £466,750.

Jonathan McDiarmid, director of marketing and sales at YTL Developments (UK), told NST Property in July that the majority of the units sold range between £300,000 and £450,000.

McDiarmid said that the remaining units in the first phase of Brabazon would be released in the coming months and through the first half of next year.

Under phase 1, more than 100 houses and apartments are currently in the advanced stages of construction.

The leisure opportunities and amenities available to residents will be central to Brabazon’s appeal.

Hangar 16U, a social hub in a restored aircraft hangar, and a heritage trail will be part of Phase 1. This new neighbourhood will be adjacent to Brabazon Park.

A supersonic new arena complex will be built in the heart of Brabazon.

YTL Developments will convert the massive Brabazon hangars into YTL Arena, a world-class indoor entertainment arena.

With this massive entertainment complex, Bristol will be on the map around the world.

The iconic Brabazon hangars, which span 26 acres and are 352 metres long and 35 metres tall, have been a part of Bristol’s history since the 1940s.

Source: NewStraitsTimes, Sharen Kaur /December 24, 2021

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