Thursday, 20 August 2015

Focus on Fishbourne property

Not many internationally renowned historical sites are surrounded by housing estates, but that’s exactly what you get in Fishbourne.

I’ve often mentioned Fishbourne as one of my favoured local areas. It benefits from its own railway station, easy access to the A27 and its properties offer better value for money than Chichester, which is just two miles away.

There is a mixture of older properties closer to Fishbourne’s centre whilst several estates have sprung up to the North, including Mosse Gardens in the 80’s and 90s, Caspian Close in 2004 and Cuckoo Fields in 2012. This rapid development led to a 19% increase in Fishbourne’s population between 2001 and 2011, with an even greater increase since.

The housing mix in Fishbourne is largely skewed towards family houses rather than flats. This makes sense, with Fishbourne’s own Primary school (rated ‘Good’ by Ofsted) and it’s catchment area to the ever-popular Bishop Luffa School less than one mile away (rated ‘Outstanding’ by Ofsted).

In keeping with this, Fishbourne’s most recent housing development (‘The Oaks’) consists of 25 two and three bed houses, with not a flat in sight.

Census data shows Fishbourne as a relatively affluent area, with over half the working population in managerial positions and it being the fifth least deprived area of Chichester (out of 29). As of 2011, 22.4% of residents were 0-19 years of age and 24.8% were over 65.

The average property in Fishbourne is valued at £371,346 with the most expensive street being Clay Lane, with an average value of £482,065 per property. This is followed by Blackboy Lane, where the average property is valued at £382,681.

81% of Fishbourne’s 988 properties are owner occupied (as of 2011), with just 6% of residents renting socially and 11% renting privately. When compared to Chichester, where 57% own their home and 19% rent privately, it suggests there is scope for more of Fishbourne’s housing to become available for rent.

Having recently let a three bedroom house in Fishbourne, several of the prospective tenants mentioned what a nice area Fishbourne was and how refreshing it was to get ample parking and a good-sized garden for similar money than a smaller terraced house in Chichester’s city centre.

With property prices up 2.8% in the past year and 13.8% over the past five years, Fishbourne also presents a good opportunity for future capital growth as more people come to realise its excellent location within close proximity to the enduringly popular Chichester.

If you’re considering investing in a buy-to-let and would like to discuss the different local property markets to evaluate which best suits your investment criteria, please get in touch.

chichester observer property headline

(This article was featured in the Chichester Observer's property section on 20th August 2015)

Clive Janes, CRJ Lettings.


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