Bristol economy to outpace the rest of the UK
Fri 02 Feb 2024
Here at Blue Sky Property (Longwell Green Bristol, Estate and Letting Agents) we LOVE Bristol !
It's such a superb place to live, work and play so this research and article from Arison Yang and Oxford Economics helps further enhance reasons so many home movers and investors see Bristol as the place to buy, rent or invest in with economy positivity predictions .
Here is what they have to say;
The Bristol economy is expected to grow by 8.9% over the next five years, significantly outpacing the rest of the UK, a report from commercial real estate firm Avison Young has revealed.
The city’s thriving economy is driven primarily by the expansion of its knowledge industries, including artificial intelligence and life sciences.
Bristol’s information and communication sector alone is projected to grow by 12.9% by 2028, closely followed by its science and tech sector, which is expected to see 10.6% growth.
According to data from Oxford Economics, Bristol is projected to see jobs growth of 5.7% over the next five years – higher than the national prediction of 3.1% – with professional, scientific, and technical skills a key employment growth area.
Sarah-Jane Osborne, regional managing director for Bristol at Avison Young UK, said: “From its thriving science, technology, and digital industries to the projected growth of employment opportunities over the next five years, Bristol is a city with great potential and firm foundations for investment opportunities.
“With high-value sector strengths, a large development pipeline, and world-class research facilities attracting talent to the city, it’s encouraging to see its economy being steered by the knowledge industries – strengthening its proposition for investors and generating new employment opportunities for residents.
“As we move forward in 2024 and beyond, the importance of collaboration between the public and private sectors to create a prosperous and sustainable future for the city cannot be understated.”
Alongside its short-term economic forecast, the city’s rich cultural offering and attractiveness to students has long placed it on the map as a desirable place to live, work and study. But this has, in turn, led to the significant undersupply of quality housing and affordable home-ownership options for residents.
The city also has the largest office market in the south of England after London, totalling 14m sq. ft. of floorspace. Its excellent talent pool, coupled with its strengths in the knowledge industries, has attracted significant occupiers to the city in recent decades, which will continue to drive its position as a hotspot for investment.
Asher Craig, deputy mayor at Bristol City Council, said: “As part of our One City approach, we are working hard to connect communities around the impressive future-facing developments we’re seeing emerge in Bristol.
“I want to hear that our communities are enjoying the benefits of this investment on their doorsteps. Our ask of the private sector is to work with us in partnership to ensure that opportunities are made visible and available to our local communities.”
If you are looking to move, need to sell or are a Landlord considering investing in Bristol Property & would like advise on how we can help you then do give us a call on 0117 932 8165.
The team at Blue Sky Property (Longwell Green, Bristol) would love to help!
It's such a superb place to live, work and play so this research and article from Arison Yang and Oxford Economics helps further enhance reasons so many home movers and investors see Bristol as the place to buy, rent or invest in with economy positivity predictions .
Here is what they have to say;
The Bristol economy is expected to grow by 8.9% over the next five years, significantly outpacing the rest of the UK, a report from commercial real estate firm Avison Young has revealed.
The city’s thriving economy is driven primarily by the expansion of its knowledge industries, including artificial intelligence and life sciences.
Bristol’s information and communication sector alone is projected to grow by 12.9% by 2028, closely followed by its science and tech sector, which is expected to see 10.6% growth.
According to data from Oxford Economics, Bristol is projected to see jobs growth of 5.7% over the next five years – higher than the national prediction of 3.1% – with professional, scientific, and technical skills a key employment growth area.
Sarah-Jane Osborne, regional managing director for Bristol at Avison Young UK, said: “From its thriving science, technology, and digital industries to the projected growth of employment opportunities over the next five years, Bristol is a city with great potential and firm foundations for investment opportunities.
“With high-value sector strengths, a large development pipeline, and world-class research facilities attracting talent to the city, it’s encouraging to see its economy being steered by the knowledge industries – strengthening its proposition for investors and generating new employment opportunities for residents.
“As we move forward in 2024 and beyond, the importance of collaboration between the public and private sectors to create a prosperous and sustainable future for the city cannot be understated.”
Alongside its short-term economic forecast, the city’s rich cultural offering and attractiveness to students has long placed it on the map as a desirable place to live, work and study. But this has, in turn, led to the significant undersupply of quality housing and affordable home-ownership options for residents.
The city also has the largest office market in the south of England after London, totalling 14m sq. ft. of floorspace. Its excellent talent pool, coupled with its strengths in the knowledge industries, has attracted significant occupiers to the city in recent decades, which will continue to drive its position as a hotspot for investment.
Asher Craig, deputy mayor at Bristol City Council, said: “As part of our One City approach, we are working hard to connect communities around the impressive future-facing developments we’re seeing emerge in Bristol.
“I want to hear that our communities are enjoying the benefits of this investment on their doorsteps. Our ask of the private sector is to work with us in partnership to ensure that opportunities are made visible and available to our local communities.”
If you are looking to move, need to sell or are a Landlord considering investing in Bristol Property & would like advise on how we can help you then do give us a call on 0117 932 8165.
The team at Blue Sky Property (Longwell Green, Bristol) would love to help!