Thursday, 4 July 2019

Which is the most expensive street in Chichester?

About once a year I like to look at which streets in Chichester are the most expensive by average property value. For a few years there was a great tussle at the top between North Pallant and Pine Grove, with the title swapping places back and forth on an annual basis.

But, taking the honours for a third year in a row now, North Pallant has seemingly cemented itself as the most expensive street in Chichester (sticking to the PO19 postcode area). The average property in North Pallant is valued at £1,110,000, which is nearly three times the average value of property throughout the PO19 area (£382,033).

In recent years North Pallant has seen properties change hands for £1.9m in 2016, £1.39m in 2014 and a massive £2.185m in 2013 (with that property alone said to be worth £2.8m today).

Pine Grove therefore has to again settle for second spot, with an average value of £1,036,000, closely followed by Brandy Hole Lane taking the bronze, with its average value just a few thousand over the £1 million mark.

A special mention should be made for Brandy Hole Lane though, as it could be argued that it is actually the most expensive street of these top three Chichester streets. That’s because there are more properties here than the other heavy hitters, so as a whole the street is actually the most valuable (there are 42 homes in Brandy Hole Lane compared to 20 in North Pallant and 32 in Pine Grove). Looking at it like that would give Brandy Hole Lane a total value of £42.5m, Pine Grove £33.2m and North Pallant £22.2m.

Moving outside of the PO19 postcode area and looking at the Chichester district as a whole brings a host of new players into the running. With renowned sailing and blue flag beaches on their doorstep, it’s not surprising that many of the most expensive streets in the area are in Bosham, Itchenor and West Wittering. In fact North Pallant doesn’t even make the top 40 now(!), finding itself some way off the overall winner, which is Spinney Lane in Itchenor, with each of its 31 homes having an average value of £2,646,000 (giving it a street value of £82m!)

In recent years there have been single house sales in Spinney Lane of £3.85m in 2017, £4.825m in 2016 and £2.25m in 2015. Back in 2012, a five-bedroom house designed by local award-winning architect Neil Holland overlooking the harbour sold for £3.825m. This house is now recorded as being the most expensive property in Spinney Lane, with a value of £5.25m. 

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