The private rented sector has reduced to 27.4% of housing stock in 2023 compared to 30.3% in 2020 according to the Building Research Establishment (BRE). This reduced stock has led to an increase in a huge demand for housing in the private rented sector, leading to increased rents.
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00:00Terrible because I think we're nearly as expensive as London in terms of salary and rental prices
00:12and mortgages. Yeah, I mean Bristol's in a hell of a state.
00:18The cost of living crisis has had a massive impact on both renters and homeowners in the
00:23city of Bristol. Bristol City Council, in their health and wellbeing profile for 2024
00:30and 2025, stated their affordability is the problem in Bristol, with house prices rising
00:36faster nationally and much faster than average incomes. Let's find out from locals their
00:42experiences. I've never rented a house in Bristol, no.
00:47I was lucky. I'm a Bristolian, but I worked in London for 10 years. And when I came back
00:55after 10 years, the differential between London and Bristol was what it was. And I was able
01:03to buy a house. Great. You know, we've always been treated
01:09all right. We got loans when we needed them. Yeah, we've managed fine.
01:16The differential between London and Bristol was what it was. And I bought my house for
01:22cash. And I'm not rich, but we were just lucky. We just happened to buy a house.
01:31According to Bristol City Council, over the last decade, private rents in Bristol have
01:36increased by 52%, while wages have only risen by 24%. On average, Bristol residents now
01:43need almost nine times their annual salary to buy a house. The spiralling costs mean
01:48housing is becoming increasingly unaffordable. Yeah, I have noticed that's gone up over the
01:56past, well, probably the past four years. Yeah.