Why invest in Bath property?

With a strong talent pool and world-leading industries, Bath is one of the South of England’s premier economic hotspots. The city’s population grew by 9.9% over the last Census period and its housing market is growing at one of the fastest paces in the UK.

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Why buy property in Bath?

9.9%

Regional population growth in Bath over last Census period (ONS)

4.5%

Annual house price growth in Bath (ONS, July 2024)

8.4%

Annual rental growth in Bath (ONS, July 2024)

5,680

Number of homes that can be constructed in Bath (Savills)

PROPERTY IN HULL

Bath Housing Market

Bath is the heart of North Somerset and the biggest regional population centre. Over the last Census period, the local population reached 193,400 – growth of 9.9% from its previous total of 174,000. This is higher than the national population growth over that time and shows how quickly the area is expanding.

The population of Bath itself is just over 94,000 and there are not enough homes to go around. The latest government directive puts the city’s regional housebuilding target at 1,466 new homes a year. That is almost double the previous target of 717 homes a year and local housing experts say it is unlikely they will be able to build so many.

House price growth (4.5%) and rents (8.4%) are growing strongly year-on-year according to the Office for National Statistics.

Bath's booming economy

Bath has recovered well from Covid-19 and the local Council has put it in a strong position to grow in the future. The local economy is growing fast, and the West of England Local Economic Partnership, including Bath and North East Somerset Council “seeks to deliver a minimum of 65,000 new jobs by 2030 building on the area’s track record in innovation and creativity and a rich heritage and cultural vibrancy.”

Councillor Paul Roper, cabinet member for Economic and Cultural Sustainable Development, said, “In many ways, Bath and North East Somerset’s economy is a success story. We have two universities, the Royal United Hospital, thriving market towns, significant businesses, and outstanding heritage and nature sites. Our residents are highly qualified, and unemployment is low.

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Regeneration

Innovative projects are underway to make Bath more sustainable, greener and more prosperous, including;

Bath Central Riverside

Bath Central Riverside is a new regeneration scheme that is transforming the area between Pulteney Bridge and Bath Spa Train Station. The plans will unlock the area’s potential and benefit both residents and visitors, whilst maintaining the importance of the city as World Heritage Site and responding to the climate change and ecological emergencies.

Bath Quays North

Avon Street Car Park is being turned into a brand new city centre district that will change the face of Bath. 16,000 sqft of office space, a 130 bed hotel, space for retail, financial services, pedestrianised areas and more will turn this space into a modern, city centre destination.

High Street Renewal

The city of Bath has secured funding from WECA's Love our High Street Fund for a five-year high street renewal project. Milson Quarter and Kingsmead Square will see public square improvements, new street furniture, event spaces and street dressing, while a city-wide Outdoor Trading Project will take place to improve the look and feel of market spaces and stalls.

This will go a long way towards modernising Bath and making it a more attractive place to live, worthy of its heritage status.

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