Thursday 12 July 2018

North Pallant tops the charts in Chichester

About once a year I like to take a look at which streets in Chichester are the most expensive by average property value. Having alternated for the past few years, North Pallant has retained the title it took from Pine Grove last year and can still boast being the most expensive street in Chichester (PO19 postcode area), with an average property value of £1,107,000.

That’s close to three times the average property value in Chichester, which is currently £383,347. That overall average has only risen by £383 (0.1%) since I did this study last Summer, whereas it seems the rich really do keep getting richer - the homes in North Pallant having increased an average of £17,243 (1.6%). Whilst it’s a similar story for the residents of the second most-expensive street in Chichester (Pine Grove at £1,031,000), the third most expensive street in Chichester (Brandy Hole Lane) has seen its average value actually decrease in the past year.

Even with a drop of 1.8% though, Brandy Hole Lane is still one of just three streets in Chichester that breaches the £1m average value mark. With the average property valued at £1,007,000, but more houses than North Pallant and Pine Grove, it also retains the accolade of being the most valuable street overall in Chichester - with a total value of £42.5m.

In fourth spot is a new entrant to the list - West Street. With a few newly converted apartments and a couple of sales in the past two years at £1.25m and £1.5m, it has seen the average value on the street blast up to £973,000.

West Broyle Drive meanwhile has seen a drop in value (by 1%) that has caused it to slip down to fifth place, with an average value of £961,000. The also usurped St. John’s Street just misses out on a place in the top five, but as its value has risen 2.3% since last Summer it has narrowed the gap to West Broyle Drive to keep it within sight for next time.

When you compare these figures to the cheapest street in Chichester (Lennox Road at £161,000 per property) you can see there is quite a difference in fortunes within our reasonably small city.

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(This article was featured in the Chichester Observer's property section on July 12, 2018)

Clive Janes, CRJ Lettings

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