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Gloucester has one of the fastest property markets in the UK, according to recent research by UK estate agent Strutt & Parker. The research found on average Gloucester property took 39 days to receive an offer or be sold in 2017, well under the national average of 59 days.
Gloucester has been revealed as the fifth fastest property market in the UK, beaten only by Bristol, Coventry, Edinburgh and Glasgow. Experts say this is good news for both sellers and buyers alike, and shows the Gloucester property market has shrugged off any uncertainty.
This isn't news to us, as over the past year we've connected more than 1,200 Gloucester movers with the best Gloucester removal companies. We think being fully informed can take the stress out of moving day, so let's have a look at what the experts are saying about Gloucester property, what may be causing the surge, and how you can sell your Gloucester home faster.
One of the main factors driving this boom in regional property markets is employment in the area: a drive in skilled employment leads to qualified workers searching for a good quality of life.
This certainly rings true for Gloucester, with the latest employment figures for the surrounding region highlighting a greater proportion of professional occupations than the UK average. According to the latest Census data, the top employment sector in Gloucester is Health and Social work, representing a fifth of all jobs in the city.
Property expert Stephanie McMahon, head of research at Stutt & Parker said:
"There has been a resurgence in regional property markets in recent years.
“This is especially true of cities and has largely been driven by employment as companies have either consolidated regional hubs or set up new ones.
“The most successful cities, often those with universities, are able to attract highly qualified workers and offer a good quality of life, which inevitably leads to increased demand from home buyers.”
Experts say another driving force behind the Gloucester property surge is newly built homes, in particular apartments. Noticeable in the other top cities, newly built homes and apartments make the whole buying process more efficient, drastically cutting down the time a property takes to sell.
James Mackenzie, Head of Country Houses at Strutt & Parker explained:
"In many of the best-performing regional cities, there has been a surge in new homes, particularly apartments.
"New home sales tend to move more quickly as there’s no upward chain and deals often have to be done within a certain time period. The legal turnaround is also quicker as the developer’s solicitors will have the whole package ready."
Looking for a speedy turnaround on your property purchase? Based on the research, the message is clear: look for a new-build flat. Let's take a look at the current costs of buying a range of differently sized apartments in a few different areas of Gloucester.
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With all this talk of a surging property market, how can sellers beat the average and get an offer on their house even faster? The answer in most cases is all to do with preparation and being proactive. James Mackenzie explains the actions you can make ahead of time to make the selling process smoother. He says:
"Appoint a legal representative as early as possible and have them draw up a contract for the sale with details of fixtures and fittings, energy suppliers and so on.
"Get the deeds from the bank and the land plans from the Land Registry, if needed. It may cost you £300, but your solicitor will have to do this eventually, so it’s very worthwhile.
"Then, when you have a buyer, you will be able to take days, if not weeks, off the transaction time."
So, when a Gloucester property surge is leading to a simpler time for buyers and sellers alike, the good news shouldn't stop. Compare My Move can help make your Gloucester house removal easier and faster too!
Use Compare My Move to get connected with up to 6 local Gloucester removal companies, who will move you locally, nationally, and internationally with ease. All Compare My Move removal partners are fully verified by us and reviewed by you, so you can trust in the professionals.
Not ready for a Gloucester move? Well, get fully informed ahead of time by checking out our Ultimate Guide to Gloucester for everything you need to know about moving to the cathedral city.