Thursday, 26 September 2019

Which streets in Chichester have had the most sold signs?

I’ve written previously that the volume of property sales in Chichester has been decreasing, which is a similar story to the one throughout the UK. Fundamentally this means people are staying longer in their current home, rather than moving onto pastures new. Having said that, there are certain streets that seem to have removal vans unloading the possessions of excited new property owners far more regularly than most.

Below are the top 10 streets in Chichester with the greatest number of property sales since 1995, alongside the total number of properties in the street.

1) Stockbridge Road - 941 sales from 334 homes
2) Henty Gardens - 465 sales from 111 homes
3) Somerstown - 456 sales from 152 homes
4) Oving Road - 449 sales from 189 homes
5) Chatsworth Road - 438 sales from 101 homes
6) Salthill Road - 431 sales from 146 homes
7) King George Gardens - 382 sales from 89 homes
8) Waterside Drive - 346 sales from 95 homes
9) Whyke Lane - 346 sales from 143 homes
10) Longley Road - 338 sales from 233 homes
Stockbridge Road has seen by far the greatest number of sold signs in Chichester, although that’s unsurprising given it has significantly more properties than on any other street in Chichester.

As a ratio of the total number of properties on the street, it is Chatsworth Road that has the highest ‘turnover’, with each of its 101 homes selling an average of 4.33 times in the last 24 years (which means each one changes hands approximately once every five years on average).

King George Gardens and Longley Road are slight anomalies in the top 10 as they have been newly built since 1995, so all the properties had to be sold at least once straight away within the data set!

Aside from these two, and also notably Salthill Road, it is typically the ‘cheaper’ streets in Chichester that have seen their properties sold more frequently. This makes sense as the more affordable properties will typically be bought by first-time buyers as starter homes, before they progress up the next step of the ladder and thus need to sell. Furthermore, the buying and selling costs are lower with cheaper properties, making them more transient, whereas by the time you buy a larger more expensive property you are likely to stay longer to get your money’s worth, many even doing so as they find their ‘forever home’.

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