Gloucester is more often than not, spoken of in terms of not being Cheltenham. While it does have a lot going for it (and a nursery rhyme), this Cathedral city does seem to suffer for the comparison.
Its main draw seems to be that it is cheaper to buy property in this area compared to many of the surrounding towns and villages. Given this factor, Gloucester is popular with people willing to commute and as such, buying to rent here could be a shrewd move.
Despite its poor reputation, Gloucester has some serious historical weight. With Roman remains, a Victorian era dock area, and of course, its Norman cathedral, this city has plenty to offer inhabitants and visitors alike.
A visit to the cathedral is well worth it. Gloucester’s cathedral has the largest medieval stained glass window in the world and scenes from the Harry Potter movies were shot in the cloisters.
The city is well designed thanks to its Roman origins and the different districts are both easy to navigate and easy to remember: Northgate, Southgate, Eastgate, and of course, West Gate.
Gloucester is undergoing a fairly intense period of regeneration and the jewel in the crown of all the changes is Gloucester Quays. This shopping development offers a range of designer shopping at outlet prices. Further development across the city means that Gloucester is a growing prospect, buying now could well be a very smart investment decision.
The biggest draw for many people is that Gloucester sits amid some seriously stunning countryside. Within spitting distance are the Cotswolds, and the Forest of Dean. In addition, there is also Robinswood Hill Country Park and a plethora of gorgeous chocolate box villages on the city’s outskirts.
So just where should you buy to let in Gloucester?
Matson has a higher than average renting population and is an area of Gloucester that does struggle with its reputation. With lots of ex-council stock, if you are looking to target renters looking for cheap rent and possibly multiple occupancy homes, then Matson could be the area for you.
A relatively new development, Abbeymeade is packed full of new homes. It is popular with residents thanks to its friendly spirit and contemporary home designs. Homes in this area are sure to increase in value and therefore offer a good potential yield.
Churchdown is popular with professionals (particularly medics thanks to the fact it is within walking distance of the hospital) and is a very desirable area with a lovely village atmosphere. It is also home to a number of good schools and quality housing stock. If you’re looking to target the top end renting market, this could well be the area for you.
Gloucester may suffer in comparison to its wealthier neighbour, but this little city really has a lot to offer the buy to let investor. With lower house prices, plenty of stock, and a healthy renting population, Gloucester has the potential to achieve a very good return on your investment.
As ever, make sure you do your own research before you leap into the Gloucester buy to let market.