Sep 30, 2022

Housing Market Update


The current financial situation in the UK has dominated the headlines this week, with stamp duty cuts and mortgage deals being discussed across the media.

Rightmove have analysed their data and provided us with some useful information that shows what is happening at ground level with the housing market in Gloucester.  Rightmove are insisting that the housing market is still moving despite mortgage lenders withdrawing rates in the last few days.

Interestingly in the last 7 days; 110 properties have come on to the market for sale in Gloucester and 197 properties have sold, which is more than the previous week! (72 on the market and 183 sold).

Some reassuring stats from Rightmove

Healthy number of sales agreed

The number of sales agreed on Tuesday was the highest number in one day since early August.

Limited impact on demand so far

On Monday and Tuesday, demand from buyers (leading to enquiries to estate agents) was down just 3% compared with other Mondays and Tuesdays this month.

Average September rate of fall throughs

Over the past few days we’ve seen fall throughs in line with what we’ve seen for all of September.

Mortgage products withdrawn, but there is still choice

A number of mortgage products have been withdrawn, but according to Moneyfacts and as reported by the BBC there are still over 2300 mortgage products available.

We are keeping a close eye on the situation and would be more than happy to chat to you should you have any questions or concerns.

With mortgage rates increasing many buyers are hoping to lock into fixed terms.  Please feel free to use our mortgage calculator to find out how much a mortgage will cost you.

Stamp Duty Reduced

On Friday 23rd December 2022 it was announced that Stamp Duty will be reduced to help first time buyers join the property ladder.

Stamp Duty no longer needs to be paid on properties under £250,000 for all purchases and £425,000 for first time buyers.

Further guidance can be found on the government website.


Please do not hesitate to contact Michael Tuck Estate Agents in Gloucester if you require a free no obligation valuation or would like to view any of our properties for sale in Gloucester


Hear what our clients have to say...

Michael Tuck Lettings in Quedgeley have managed our rental property for the past 11+ years.

During this time their professionalism has never dropped. In the early days, Ian, Graham and Vikki-Lee were a huge help to a novice landlord. I’m pleased to say they are still there with a helping hand. Claire has always been the nudge I needed for the necessary insurance and safety checks. Having had some difficult times over the past couple of years I would like to say a special thank you to Lianne who has been there to help wherever she could.

We are in the process of selling the property and as expected Miles and Otis are dealing with everything with Tucks usual professionalism.

I have no hesitation in recommending this lovely, friendly office.

Linda Parker

I cannot recommend Michael Tuck Estate Agents enough.

They were so professional and so prompt with their communication. In particular we would like to mention Charlie for his regular updates and extremely helpful service in the sale of my mothers house. We were in a particularly long chain, and he went over and above to assist us in the communications between the buyers and sellers in order for our chain to proceed. He even contacted Solicitors and helped progress the exchange.

“We are certain if it wasn’t for him we wouldn’t have sold our house! We cannot thank him and his team enough.”

Kelly Durkin

Miles has gone above and beyond to ensure buying our first house has been a smooth process. He has offered clarification and reassurance at all steps of the journey, making us feel like valued clients.

“We would recommend Michael Tuck Estate Agents.”

Hollie Blunt

Michael Tuck New Homes in Gloucester assisted us selling three phases of our development in Kingsway, Gloucester.

“All of the staff were very professional and knowledgeable sales people who represented our company as if it were their own.”

If we were to need help selling our homes in the Gloucester ara again they would be the first phone call i’d make.

Stephen Holbrook. Abbey Homes

Tony and John, Abbeymead branch, supported us during very difficult circumstances (and we don’t just mean Covid!)

The same applies to other staff when answering queries etc.

“They were unfailingly courteous and returned phone calls and emails promptly.”

David Duncan

I have been a customer of Michael Tuck Lettings in Abbeymead for coming up to 2 years now.

I would like to highlight Kurt and James for there forever ending support and excellent communication. Their joint efforts have filled me with confidence in the ability to keep my family safe in a home we love.

No matter the complexity or need they are always on hand to support and come to some form of reasonable resolution.

For this reason I would recommend Michael Tuck to all my family and friends and will hopefully continue to stay a customer of Michaels Tucks until I purchase my own home. Thank you

“Being a contact centre manager I know how important customer service is and I must say that Michael Tuck has not disappointed.”

Jay Preece

Miles and the team have been brilliant from start to finish during the sale of our house.

Miles especially went above and beyond with sales chasing when I think most other people would have probably given up! Really happy with the service.

“Such a friendly and professional team and nothing was too much trouble.”

Anna England

I was recommended Michael Tuck Estate Agents in Abbeymead by a friend, thank you friend!

I would like to say a big thank you and well done to the team who are very friendly, helpful and have taken the strain out of what was a fairly long house sale.

Special thanks go to Chloe and Tony for their positivity and Chloe thank you for your good humour which lifted me during the long process!

“I would highly recommend them for a first class service”

Jane West

Michael Tuck Lettings in Abbeymead have been a fantastic letting agents looking after our house for the past 17 years.

We have recently sold the house with the sales department.  Kurt has looked after us incredibly well during the 17 years of lettings and Tony, Andy and Chloe have made the selling very easy. Thank you

“The staff are professional, approachable and easy to contact.”

Claire Rawlinson

I have recently bought and sold through the Gloucester branches and cannot praise Miles and the team highly enough.

In what has been a very testing time for the industry, Miles and all the staff have worked tirelessly in my purchase and even more so my sale.

Thoroughly recommend Tucks every time. Special thanks to Otis. Thank you guys it’s been an absolute pleasure.

“Their drive and communication skills have been amazing.”

David Lichtenstein