Gloucester has emerged as the leading hotspot in the South West for first-time homebuyers, boasting the highest percentage of two-bedroom properties within their price range, according to new data.
A recent Home Affordability Map compiled by Reallymoving highlights which UK regions offer the largest share of affordable homes for first-time buyers. In the South West, the average budget allocated for a two-bedroom property is £224,000, ranking it among the highest across the country.
Specifically, within Gloucester’s GL1 postcode, 84% of two-bedroom homes currently listed are affordable for buyers within this budget. Rightmove data reveals there are 110 two-bedroom properties available for up to £220,000 in this area.
READ MORE: Concerns Rise Over Missed Bin Collections in Gloucester Amid Heatwave
Plymouth follows closely behind, with 81% of two-bedroom homes in the PL4 area accessible within the same budget, while the DT5 postcode in Dorset’s Isle of Portland offers 70% affordability.
Despite Gloucester’s local distinction, these percentages are modest compared to other UK regions. For example, Greenock in Scotland, with a lower average budget of £159,000, has 99% of two-bedroom properties within reach. Similarly, Grimsby in Yorkshire and Humber shows a 99% affordability rate for buyers with a £154,000 budget.
Even London, with the highest first-time buyer budget of £426,000, presents areas like DA8 (Erith) and IG11 (Barking) where over 90% of two-bedroom properties are affordable.
Rob Houghton, Founder and CEO of Reallymoving, commented: “With mortgage rates high and affordability stretched, many first-time buyers may feel priced out. However, affordability varies greatly by location. Expanding the search slightly beyond familiar areas can significantly increase market access and options.”
Houghton adds, “Many hotspots are located in established towns and cities, but buyers with flexible working options can find even better deals further from major transport hubs. The current market favors buyers, especially as more landlords sell off properties due to changes like the Renters’ Rights Act, creating opportunities across price points.”
A spokesperson for The Property Centre, Gloucester’s leading letting agent, notes: “Gloucester is an excellent option for first-time buyers. We frequently sell two-bedroom homes not only to locals but also to buyers seeking more affordable options compared to Cheltenham, parts of the Cotswolds, or Bristol.”
They highlight recent developments that include shared ownership properties, improving affordability. The city’s ongoing regeneration, strong employment prospects, and balanced lifestyle—offering urban amenities alongside green spaces such as Robinswood Hill and Gloucester-Sharpness Canal—contribute to its appeal.
Gloucester also benefits from excellent transport links, including easy access to the M5 and direct train services to Bristol, Birmingham, and London, making it an attractive location for commuters.