Article 38GVM Bristol's housing crisis: 'The idea you would own a home is ridiculous'

Bristol's housing crisis: 'The idea you would own a home is ridiculous'

by
Richard Partington
from Economics | The Guardian on (#38GVM)

Soaring property prices, rising rents, austerity and an influx of London i(C)migri(C)s are putting the squeeze on young people

Bristol's economy has flourished in recent years, fuelled in part by its proximity to the capital's booming economy and overheating housing market. The west of England, and the city of Brunel and Banksy, is an increasingly expensive place to live with the highest private sector rental costs outside London, according to the Resolution Foundation thinktank.

Bristol's burgeoning youth population is bearing the brunt, in a part of the world known not just for its heritage as a cornerstone of the industrial revolution but for its cultural scene. With typical house prices more than 10 times the average salary, that might make it tougher for the next Massive Attack or Portishead to emerge.

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