Moving to Gloucester? Or, considering selling your home in Gloucester? Discover more about house prices in Gloucester in 2024 and how our home storage services can help you move with ease. 

What’s happening to house prices in the UK?

2023 saw a slight decrease in UK house prices, and some experts believe further reductions could occur this year. 

The Land Registry’s UK House Price Index is based on actual property sales, and according to its figures, the average price of a UK property slightly dropped by 0.2% between February 2023 and 2024. In the 12 months previous, house price growth increased by 4.3%, so the slowdown in growth is evident. 

If you’re buying a property as a first-time buyer in the UK, the average sold price is £249,000. However, home movers already on the property ladder can expect to pay £339,000 on average.  

The Average Price of Property in Gloucester 

A cathedral city and county town of Gloucestershire, Gloucester is an ideal location to buy property. Located between the Cotswolds National Landscape and the Forest of Dean, Gloucester offers stunning nature nearby and also boasts a range of parks and canal sidewalks in the city. 

According to Rightmove, properties sold in Gloucester had an overall average price of £273,825 over the last year. The data is from asking prices set by sellers on the portal rather than sold prices.

The majority of property sales in Gloucester during the last year were semi-detached properties, selling for an average price of £284,305. Terraced properties sold for an average of £218,297 in the area, with detached properties in Gloucester fetching £419,767.

Overall, sold prices in Gloucester over the last year were 4% down on the previous year and 4% up on the 2021 peak of £262,156.

What is the UK Property Market like?

Last year, there was a notable drop in housing transactions and the UK property market has since remained slow. According to HMRC, 6% fewer transactions occurred in February 2024 compared to February 2023. 

Demand from buyers has also fallen, likely due to high mortgage rates, and despite an 18% increase in new properties on the market. 

However, if you’re planning on buying a house in Gloucester, the slower market may mean you can negotiate a more agreeable purchase price. 

What will happen to UK house prices? 

According to HSBC and Nationwide, prices will remain broadly the same this year. However, Rightmove and Zoopla forecast a small drop of 1% and 2% respectively. Halifax predicts a fall between 2% and 4%. 

Should I move to Gloucester?

With plenty of history and a diverse culture, the city of Gloucester offers plenty of reasons to move there. The area offers choice when it comes to property types, from modern apartments to period properties, and properties are often more affordable than nearby Cheltenham and the Cotswolds. 

Plus, moving to Gloucester has never been easier. Our professional SureStore self-storage facility offers a secure home storage solution, ideal for storing furniture and household items safely while you move. 

Discover a range of self-storage units in various sizes and a flexible, managed storage plan to suit you.