Thursday 12 May 2016

North Pallant is the Mayfair of Chichester

north pallant chichester

The most expensive property on the market in Chichester at the moment is a 5,591 square foot Grade II listed townhouse in North Pallant, priced at a cool £2million. Also for sale on the same street in Chichester’s city centre is a 3,881 square foot home priced just shy of £1.6million.

A quick check of Zoopla’s property value data (focusing on the PO19 postcode) shows that North Pallant is the premium street in Chichester, with each of its twenty residential properties being worth an average of £940,808.

Interestingly, this is actually a drop of 7% in the past six months for the average property value on North Pallant, a theme that is repeated throughout the top five most expensive streets, which have dropped an average of 3.5% since November 2015.

Even so, with the average property in Chichester valued at £345,000, a property on North Pallant is nearly three times more expensive than the local average.

The most expensive residential property I found to have ever sold in Chichester is also located on North Pallant. This six-bedroom Grade II listed (most of North Pallant is listed) townhouse sold in November 2013 for £2,185,000 and is estimated to be worth in excess of £2.5m today.

Pine Grove is now hot on the heels of North Pallant for the accolade as Chichester’s most expensive street however, with an average value of £934,685 (having closed the gap significantly with a lesser drop of 3% in the same six months).

The third most expensive street is Brandy Hole Lane, with each of its 42 properties having an average value of £898,634. This would give the whole street a combined value of nearly £38m; something of a bargain when you consider that might get you just one property in London’s Mayfair!

West Broyle Drive is in fourth spot, with an average value of £862,321 whilst St. Johns Street has replaced Mill Lane in fifth place (with an average value of £809,650).

Compare these figures to the cheapest street in Chichester (Lennox Road at £144,808 per property) and you can see there is quite a difference in fortunes within our reasonably small city.

The top five most expensive streets in Chichester (average property value) are:

1. North Pallant (£940,808)
2. Pine Grove (£934,685)
3. Brandy Hole Lane (£898,634)
4. West Broyle Drive (£862,321)
5. St. Johns Street (£809,650)

chichester observer property headline

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

on 12th May 2016).

Clive Janes, CRJ Lettings.


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