Bristol saw 157 properties sold for over £1 million in the twelve months to September 2022, new research has revealed. The survey by local auctioneer Property Solvers examined homes sold within BS postcodes, the most expensive of which went for £3.5 million.
Seven-bedroom Sutton House sold in March, and is already valued at £3.51 million. The second biggest sale was on Russell Avenue, in BS24, which went for £3 million. The third largest was on Pembroke Road, BS8, which attracted £2.9 million.
The number of local seven-figure sales – which was derived from data published by HM Land Registry – puts Bristol in 26th place across England, Wales and Scotland, with the value of properties sold totalling £215.03 million.
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This total represents a 32 percent decrease on that of the previous twelve months. Seven-figure sales within BS postcodes came to £297.73 million between September 2020 and September 2021, Property Solvers revealed.
Co-founder Ruban Selvanayagam said: “Although there remains a fairly healthy volume of sales in this price bracket, such a pronounced drop would suggest that buyer appetite for these types of homes is decreasing.”
He added: “Million-pound-plus properties, even for the wealthy, are a major commitment and indeed affected by the wider economy. With continued inflationary pressures and rising interest rates as a result, it would not be too much of a surprise to see a continued cooling off across the high-end property market in the coming year at least.”
The top ten most expensive property sales in BS postcodes, between September 2021 and September 2022:
Sutton House, Clifton Down, BS8 3HT - £3.5 million
Russell Avenue, BS24 7GH - £3 million
Pembroke Road, BS8 3EW - £2.9 million
Avonwood, BS9 1PH - £2.9 million
The Paragon, BS8 4LA - £2.5 million
Mulberry House, West Hill, BS48 1PH - £2.5 million
Pembroke Road, BS8 3EE - £2.4 million
Rownham Hill, BS8 3PU - £2.3 million
Deerwood, BS20 7SA - £2.3 million
Uplands, Bristol, BS20 7SB - £2.2 million
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