When you see a Banksy start buying.
When you see a Banksy start buying!
Does Banksy Street Art influence the up and coming areas of Bristol? – AUL finds out:
Whenever I go to a networking event or drinks party and I tell a stranger what I do, I am invariably asked two questions:
- How’s the housing market in Bristol?
- I’m thinking of buying a buy to let property what are the up and coming areas in the city?
The answer to the first is at the moment that Bristol's rental market is completely bonkers and is in danger of overheating. The answer to the second is not as easy. Up and coming for whom? What is up and coming for families is not necessarily up and coming for young professionals or students. This is the kind of non-committal woolly answer that disappoints many people.
But back to a serious point, people really want to hear a definitive answer from “a property expert” so after careful research I have now devised Ellis’ Law of Bristol’s up and coming areas, which states:
A property is up and coming if three of the following statements apply to the area you are looking to invest in
- Your local "greasy spoon" is now a café and serves lattes at £2 a pop
- You have an artisan baker in your high street
- It must have a large selection of “neglected” period houses
- The high street has more estate agents than pound shops
- The most popular names in the local school are Jack and Molly
- There is a Waitrose
- The Guardian is the most popular newspaper
- You have a Banksy piece of art on a wall of a building in your postcode
So let’s look at some areas of Bristol’s that have a history of being more challenging and see if they fit Ellis’ law:
We all know that Southville has gone beyond up and coming and has now arrived but what about "Bemmi"?
Café – Bedminster has plenty of cafes but still has a number of good quality greasy spoon caffs.
Up and coming rating - ✓
Up and Coming rating - ✓
Estate Agent quota – East Street and West Street still have more pound shops and cash converters than estate agents.
Up and coming rating - X
Waitrose? – Not yet – Up and Coming Rating – X
Banksy? – Sorry Mr Banksy doesn’t go that far south on his holidays – Up and Coming rating – X
Period Property – The Chessels Victoria Park and Windmill Hill have lots of large Victorian houses - Up and Coming Rating - ✓
Verdict – Certain parts of Bedminster are definitely up and coming
St George and Redfield
Why did Bishopston and St Andrews move up the property chain when 2 similar areas St George and Redfield got stuck, and is that about to change?
Café – More Wetherspoons than Cafes – Up and Coming Rating X
Artisan Baker – No but it does have an olive shop which definitely counts – Up and coming rating ✓
Waitrose – Sorry no – Up and coming rating X
Banksy – Our survey said - uh uh – Up and coming rating X
Estate Agents – Lots of estate agents – Up and coming rating ✓
Period Property – Lots and lots of period property. Look for houses that overlook St George’s Park – Up and coming rating ✓
Verdict – With 3 ticks St George is definitely up and coming
St Paul’s Montpellier and St Werburghs are definitely in the up and coming category so is their noisy neighbour Easton about to join them?
Banksy – Definitely. Several early Banksy’s make Easton Banksytastic – Up and coming rating ✓
Artisan Baker – St Marks Rd is becoming a foodie must visit but not quite up there yet–
Up and coming rating X
Waitrose – Really? – Up and coming rating X
Period Property – Lots of Victorian Barratt homes – Up and coming rating ✓
Estate Agents – Although Stapleton Rd does have some estate agencies, they are outnumbered by low cost shops – Up and coming rating X
Verdict – Although it has Banksy’s and period properties, Easton still has a little way to go to be upwardly mobile but it is on the way.
This, it must be stressed, is just a bit of fun. However, there is a serious point behind it. Businesses do not invest in areas for the fun of it. If a coffee shop chain thinks there is enough demand for their product in an area to justify opening they will open up.
When an area like Southville becomes too expensive then people look to neighbouring areas and as demand rises, prices rise. Then there is a business case for an estate agent to open. So, before you invest in buy to let, have a look at what is happening in the local high street that will tell you everything you need to know. And if there is a Banksy and a Waitrose, you’re too late!
This morning came the news that the latest Banksy in the city centre has been vandalised. So although many people see Banksy as a source of Bristol pride, there are some who are less than keen: http://www.bbc.co.uk/news/uk-england-bristol-29703870
To find Banksy’s street paintings in Bristol check out Google Maps: https://maps.google.co.uk/maps/ms?msa=0&msid=203603982527969094379.0004b97debde6d3bb41aa&dg=feature