Thursday, 28 April 2016

Rents in Chichester are on the rise

I have been assisting a first-time landlord in the past six months to find a suitable buy-to-let investment in Chichester. Having agreed the purchase of a two-bed house in Arundel Park at the end of last year, I showed him comparable properties at the time that suggested a rental figure of around £775-£850pcm (depending on the quality of his refurbishment). Fast-forward a few months and with the property ready to let it suddenly seems £850-£895pcm is a realistic rent for what is a desirable property in limited supply.

In fact, whilst my own data shows the average rent for all properties on the market in Chichester (£950pcm) hasn’t changed in the past 12 months, breaking it down by property size reveals a different story. The rents of one and two bedroom properties have risen 3.7% whilst the rents of the larger properties have actually dropped by 2.5%.

The largest rent increase has been from two-bedroom houses; rising from an average £900pcm 12 months ago to £950pcm today (+5.6%). This isn’t surprising considering there are only five two-bed houses available to rent in the whole of Chichester right now! Interestingly, the average rent of those five available two-bed houses is £1,049pcm, compared to a more reasonable £909pcm average for the 12 two-bedroom houses that are ‘let agreed’.

This is representative of the overall rental market in Chichester; whilst the overall availability of rental property in Chichester drops, it is the ‘cheaper’ properties that are renting quicker than the more expensive ones.

Twelve months ago there were 106 properties available to rent in Chichester, whereas now there are just 76.

Data from indicates the 34 properties in the £500-£1,000pcm range remain on the market for an average of 35 days (from first listing to being tenanted and removed). This compares to the more expensive properties in the £1,000-£2,000pcm range that spend double the length of time on the market (an average of 70 days).

This is one reason as to why landlords shouldn’t get ahead of themselves and increase the rent fortuitously. Instead, it is prudent to set a fair rent that will attract a good-quality tenant quickly, who will want to stay in the property long-term and thus minimise your void period; which will actually increase your overall return.

As the supply and demand of rental property can turn on a sixpence, so does a property’s achievable rental figure. If you’d like a free rental valuation that bears this in mind, please get in touch.

(This article was featured in the Chichester Observer's property section 

on 28th April 2016).

Clive Janes, CRJ Lettings.


If you are looking for an agent that is well-establishedprofessional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:


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