I was speaking with a landlord in Chichester recently about the importance of matching the size of your property to the right number of occupants. He commented that with house prices at all-time highs, people are having to settle for a smaller property than they used to. That got me thinking…is that actually true?
And yet, whereas 70% of homes in Chichester have just one or two people living in them, 82% of homes in the District have at least three bedrooms!
This is probably something to do with the demographics in Chichester being skewed towards an older generation who may have seen their children fly the nest but wish to retain their current home and the downstairs space they have become used to (and can still afford to keep).
After all, if you’re anything like my mum who wanted to ‘downsize’ but retain a kitchen/diner, living room and separate dining room, you’d either need a chalet bungalow or you’re destined to have more bedrooms upstairs than you need for the sake of having the downstairs space that you want. Plus a smaller home often won’t give you the commonly requested amenities, such as adequate parking and a good sized garden.
A reduction in the number of people in each household is symptomatic of the overall housing market. Fifty years ago there were closer to three people in the average household, but families having fewer children, an aging population and an increase in divorces has led to a lower density per household. Today, only 5% of homes in Chichester house five or more people compared to, a still relatively modest, 7% nationally.
This means there are actually an awful lot of spare bedrooms available throughout the Chichester district (in excess of 35,000 according to my rough calculations). It also means that, in general, it doesn’t seem that Chichester’s homes are in fact bursting at the seams.
For more tips about buying, selling, letting and renting in Chichester, please visit www.chipropertynews.co.uk
(This article was featured in the Chichester Observer's property section on 5th April 2018)
Clive Janes, CRJ Lettings.
If you are looking for an agent that is well established, professional 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 clive@crjlettings.co.uk 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:
c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP
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