Thursday, 9 May 2019

What’s for rent in Chichester?

Last week I looked at what properties were for sale in Chichester. This week I thought I’d cater for those who aren’t yet in a position to buy and instead are looking for a property to rent in Chichester. It should also help Chichester’s landlords see how their properties fit into the rental market.

Of course, what you can rent is largely dependent on your budget. The cheapest property in Chichester costs £350pcm (per calendar month). The problem is it’s a single room in a shared (student) house, rather than a whole property. The cheapest property you could call your own in Chichester is a studio apartment in Arundel Park, which is up for rent at £585pcm.
On the other end of the scale, the most expensive property for rent in Chichester today is a five-bedroom detached house in Summersdale, which is available to rent for £2,250pcm.

Clearly rental property in Chichester is expensive…some more so than others! Let’s assume your budget is somewhere in the middle of the market. In fact, the median property for rent in Chichester costs £950pcm, which is the same figure as it was 12 months ago. For £950pcm there are a variety of two-bedroom flats and houses available to rent throughout the city.

Delving a little deeper into the median price by property type provides a good indication of what your budget is likely to be able to afford in Chichester:
What is also interesting to note is how much (or how little!) choice there is for prospective tenants in Chichester right now. There are a total of 212 properties for rent, of which 133 are still available to rent and 79 are now ‘let agreed’. This is actually a slight improvement on the market a year ago, when just 126 homes were still available to rent; but it is still low for a city that houses 6,356 private renters.

Those looking for a two-bedroom apartment have the most choice, with 36 available to rent in Chichester. There are a larger number of three-bedroom houses available than normal (29), whilst there’s a tighter supply when it comes to two-bedroom houses (17 available), one-bedroom flats (16 available) and four-bedroom houses (14 available). 
It seems that rental supply remains tight in Chichester, which is limiting tenants’ choices, keeping rents stubbornly high, and makes finding that dream home just a little bit trickier.

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Chichester rental valuation

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