This update is by economist Chris Worthington, who is a regular speaker at our PIMs, including last month.
The theme of this month’s article is transport and the impact of transport links on the Bristol Buy to Let (BTL) market.
It is well known that transport links are a key driver for economic development and the housing market is no exception to that.
Here is a round up of new transport infrastructure that is either built or at the planning stage in the Bristol area
The MetroWest Rail Programme
The four West of England Councils are working on proposals to upgrade the local rail network.
The aim of the MetroWest programme is to introduce fast and frequent metro rail services by making better use of existing railway lines and re-opening viable disused lines.
MetroWest Phase 1 includes:
- Re-opening the Portishead branch line including stations at Portishead and Pill, with an hourly train service to Bristol Temple Meads, stopping at Parson Street and Bedminster stations.
- Upgrading the Severn Beach line, with a half hourly train service for all stations to Avonmouth
- Upgrading the Bath Spa to Bristol line, with a half hourly train service for Keynsham and Oldfield Park stations.
A separate scheme, MetroWest Phase 2, entails upgrading the Henbury freight line for scheduled passenger train services with new stations at Henbury, North Filton and Ashley Down, along with upgrading the train service from Yate to Bristol Temple Meads to a half hourly service.
MetroBus: Bus Rapid Transit
MetroBus has been designed to link with existing rail and bus services. The three routes are:
- Ashton Vale to Temple Meads and Bristol City Centre. This route will provide frequent services from Long Ashton Park and Ride to Bristol Temple Meads and the city centre.
- The North Fringe to Hengrove route will link Cribbs Causeway, Aztec West and Emersons Green with Bristol city centre and Hengrove in the south of Bristol.
- The South Bristol Link route connects the Ashton Vale to Temple Meads service from Long Ashton Park and Ride to the new hospital and leisure centre in Hengrove.
The Great Western Railway
Electrification of the mainline railway from London Paddington to Cardiff via Bristol Temple Meads has been subject to delays but it expected to be completed by 2024.
Improvements to stations are underway. At Bristol Temple Meads signalling will be substantially upgraded in 2018 in preparation for a new timetable. The Temple Circus roundabout is currently being remodelled.
Conclusion
Before making a new BTL investment research existing and planned improvements to transport infrastructure
Our Next Property Meeting
We will all be discussing the latest position on the property market in Bristol and across the UK at our next PIM on Thursday 29 March 2018 at Future Inn, Bristol, BS1 3EN.
We hope you will join us then.
For more info and to reserve your place Click Below
Property Options Bristol
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