On the other end of the scale, the most expensive property for sale in Chichester is a tie between a seven-bedroom detached house in Pine Grove and a four-bedroom detached house in The Drive, which are both priced at £1.65m.
Clearly property in Chichester is expensive…some more so than others! Let’s assume your budget is somewhere in the middle of that. In fact, the median property for sale in Chichester costs £325,000, which is only marginally up from £320,000 compared to 12 months ago. For that you could choose between a couple of two-bedroom apartments in Summersdale, a newly-built two-bedroom house on the Shopwhyke Lakes development, or there’s a variety of three-bedroom houses around the city with this price tag.
Delving a little deeper into the median price by property type provides a good indication of what your budget is likely to stretch to in Chichester:
In Chichester right now there are a total of 589 properties for sale (compared to 632 a year ago). But with 376 of these available there’s actually 10% more properties still for sale compared to a year ago. The number of properties sold ‘stc’ (subject to contract/completion), however, (213) is down 27%!
Those looking for a three-bedroom house have the most choice, with 112 available to buy in Chichester. It is the smaller homes, aimed at our first-time buyers, where supply is particularly lacking. There are actually more four-bedroom houses available (64) than there are one-bedroom flats (25 available) or two-bedroom houses (37 available). Two-bedroom flats, which are perhaps the most common of ‘first-time buys’, is only marginally easier to come by with 65 available.
It seems to me that supply remains tight in Chichester, which limits buyers’ choices, keeps house prices resilient, and makes finding that dream home just a little bit trickier.
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 June 21, 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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