Gloucester has emerged as the leading hotspot in the South West for first-time buyers, offering the highest proportion of two-bedroom properties within reach, according to recent data.
A Home Affordability Map by Reallymoving highlights areas across the UK where first-time buyers have the greatest access to properties within their budgets. In the South West, buyers looking for two-bedroom homes allocate an average budget of £224,000 — one of the highest in the country.
In Gloucester’s GL1 postcode, 84% of two-bedroom properties on the market fall within this budget. Currently, Rightmove lists 110 two-bedroom homes in GL1 priced up to £220,000, making Gloucester exceptionally accessible for new buyers.
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Following Gloucester, Plymouth’s PL4 postcode offers affordability to 81% of buyers with similar budgets, while Dorset’s Isle of Portland (DT5) has 70% of properties within reach.
Despite its top South West ranking, Gloucester’s affordability percentage is modest compared to other UK regions. For example, Greenock in Scotland and Grimsby in Yorkshire offer 99% of two-bedroom homes within lower budgets of approximately £159,000 and £154,000 respectively.
Even London, with the highest regional budget of £426,000, sees 92% of two-bedroom homes affordable in Erith (DA8) and 90% in Barking (IG11).
Rob Houghton, Founder and CEO of Reallymoving, explains, “Affordability varies greatly by location. First-time buyers can increase their options by expanding their search area, particularly in towns and cities with widespread housing markets. With mortgage rates still high, buyers benefit from seeking areas with a larger pool of affordable properties.”
He adds, “The current market favours buyers, especially as more landlords sell properties due to changes like the Renters’ Rights Act. Flexible working also enables buyers to explore areas further from transport hubs, unlocking more opportunity to negotiate good deals.”
A spokesperson from The Property Centre, Gloucester’s leading letting agent, confirms the city’s appeal to first-time buyers. “Gloucester attracts buyers not only from the city but also from nearby areas like Cheltenham, the Cotswolds, and Bristol who seek affordable housing.”
Recent regeneration, new developments featuring shared ownership options, strong employment prospects, and a blend of urban and outdoor lifestyle features underpin Gloucester’s popularity. The city offers vibrant nightlife, dining options, extensive green spaces including parks, Robinswood Hill, and the Gloucester-Sharpness Canal, with close proximity to the Forest of Dean.
Excellent transport links, including access to the M5 motorway and direct trains to Bristol, Birmingham, and London, further enhance Gloucester’s desirability as a commuter-friendly city for first-time buyers.