People being 'priced out' of Bristol as rent prices rise faster than wage growth

Bristol, Leeds and Nottingham revealed as the only cities in the UK where the price of rents rose faster than UK average wage growth. 

A survey conducted by the property website Zoopla found that rental prices in the city had risen 4.5% in the last year, with younger people disproportionately impacted. 

Rent prices across the country have, in contrast, become more affordable. One of the reasons attributed to this is an increase in people buying their first house, relieving pressure on the rental sector. 

The average rent payment on a two-bedroom property in Bristol is £922 a month and £1,164 for a three-bedroom property.

Responding to the survey, James Cox, Liberal Democrat MP candidate for Bristol West, said:

"The figures show that more and more people, particularly young people, are being priced out of living in our city. 

"There is a huge demand to live in Bristol, but too many people are being forced to rent because there simply aren't affordable homes to buy. Whereas other cities and towns are able to make renting more affordable, partly because people are moving out of the rental sector, that simply isn't the reality in Bristol.

"Everyone deserves a decent, affordable home. People should not be being priced out of living in Bristol and miss out on what our city has to offer. It is time to be ambitious with our housebuilding across the country, by giving local authorities more freedom to invest in social and affordable housing schemes and by building 300,000 new homes every year by 2022."

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