Property Values along The A40

As we enter into the late summer the most recent set of property price indices have been released showing some substantial property value increases in both Cheltenham and Gloucester.  Over the last three months an average property in Cheltenham has risen from £288,900 to £297,900 a rise of £9,000 or just over 3.1%.  The average property in Gloucester has also risen from £192,200 to £204,000 a rise of £11,800 or 6.1%.  This is great news for anyone who owns their own home in either Cheltenham or Gloucester. 

However, the A40 has other towns along its length and as a landlord one must consider other towns and cities to invest in. The first major town to the East along the A40 is Witney. An average property in Witney has seen an increase in property values by £10,000 over the last 3 months, taking an average property up in value by 3.4% up to £334,000. In a Westerly direction, we get to Ross-on-Wye, where average property values have risen by £8,200 to £277,600.

I find it interesting that four places along the A40 – Ross-on-Wye, Cheltenham, Gloucester and Witney all within a stone’s throw  of each other, can experience such variations in property prices. With average rents steadily rising by 1 to 2% a year and with continuing troubles for first time buyers raising the £10,000+ for the deposit and fees, I can only see greater demand for rental properties in Cheltenham and Gloucester, which will mean more people will continue to buy property for Buy to Let, and where there is greater demand, the price tends to go up. This however, is only my opinion.  If you want to chat about any matter relating to property in Cheltenham or Gloucester please pop in and see myself or one of my team in offices in either Cheltenham or Gloucester for a chat or email direct for any opinion on neil.west@belvoirlettings.com