As we step into March, we take a deep dive into the latest property market trends in Gloucester, analysing key figures and what they mean for buyers and sellers.
Where have the first two months of 2026 gone.
There was certainly no let up in February for the Gloucester Property Market after a busy January to start the year.
In our usual monthly article we take a look back at the previous month and provide some data and analysis on what happened to Gloucester property and provide some insight as to what may lie ahead.
Prices
Average asking prices in Gloucester were £296,024 which represents an annual increase of 2%. Gloucestershire as a whole saw average asking prices at £386,442 which represented a decrease of 0.1% over the past year.
The philosophy of deliberately just to win your business appears to show little sign of changing. Remember that a lot of the valuers who come to see you are personally rewarded for getting your house on the market rather than actually selling it which may explain some of the over inflated figures.
In Gloucester and across GL1, 2, 3 and 4 there were 239 price reductions through the month of February. This is an increase of almost 10% on the previous month despite there being 3 less days. One agency accounted for almost 30% of the total number of price reductions. The same agent has a 3 month notice period written in to its standard contract, a further reminder to make sure you know the terms of any agreement you are signing. Is this agent inflating figures just to win business, knowing you are tied in and will have to reduce your price if you want to sell?
Properties For Sale
Properties in Gloucester are currently taking on average 66 days to sell, up 7 on last month and 13 days slower than the average this time last year. Despite this, Gloucester is 5th fastest of England’s 50 largest cities.
February saw sales agreed on 334 properties across GL1, GL2, GL3 and GL4 whilst the figure for the same period last year was 295. Last months figure is 8% up on January, a longer month.
The number of homes currently available across the UK remains high and it certainly remains a buyers’ market. Activity levels point towards the volume of available property starting to reduce as we enter the second quarter of 2026.
As of 28th February, there remained over 1000 properties unsold across the four Gloucester postcodes. At the same time in 2025 there 936 unsold properties across GL1, GL2, GL3, GL4.
Interestingly the estate agent with the high number of price reductions and lengthy notice period also holds 20% of the unsold property. Draw your own conclusions on that.
These unsold properties are broken down as follows –
GL1 – 27%
GL2 – 32%
GL3 – 24%
GL4 – 17%
Of the 1017 properties unsold on the Gloucester property market at the end of January, 555 had been on the market for at least weeks, whilst 498 of those had been on the market unsold for 12 weeks or more. These numbers are down on the previous month and a further sign of an improving market.
If we delve a little deeper then it shows 407 (exactly the same number as last month) (40%) of the properties are priced under £250,000, 361 (35%) of the properties are priced between £250,000 and £400,000, 119 (12%) are priced between £400,000 and £500,000 with 131 (13%) priced over half a million pounds. The biggest change in the last month has been between £400,000 and £500,000 so if you are in this price bracket as a seller it could represent encouraging news.
Mortgages
February saw the Bank of England choose to keep the base rate of interest at 3.75% With the next Bank of England meeting scheduled for March it appeared for much of February that a further cut to the base rates may be in the offing.
The unrest in the Middle East and the rising inflation figures look to have put paid to that and it remains to be seen what the coming months may hold.
Lenders, whilst fighting for business, have maintained rates at a fairly level figure however rising long term borrowing costs may see an increase in fixed term rates.
Summary
2026 is shaping up to be a good year to buy. This is because of improved affordability and plenty of choice:
• Average property prices are the same as a year ago. This is particularly beneficial to first-time buyers saving up their first deposit
• Average earnings are up by 4.7% year-on-year, outpacing the last three years of cumulative property price growth
• The number of homes for sale is at an 11-year high for this time of year, giving buyers more choice and negotiating power
• Lenders are continuing to offer ways for eligible buyers to borrow more
• Average mortgage rates are still near their lowest level since September 2022’s mini-Budget
There remains plenty of choice for buyers and anybody looking for property should make sure they are maximising their search options - increase your budget by a price band or two and widen your search area.
Sellers must continue balance price ambition and market realism give yourselves the best chance of finding a buyer and getting your home sold.
Choose your estate agent wisely. Are you being lulled in by an over inflated asking price, given to you by an agent who is only interested in winning your business rather than selling your home?
As always we appreciate your thoughts and comments on the Gloucester property market and are happy to answer any questions you have or provide any assistance for with your home moving plans.
Share this post: