Not including commercial property or Chichester Cathedral, which is the crowning glory of West Street, the 24 residential properties on West Street have an average value of £1,170,000. That makes it the most expensive street by average value in Chichester (PO19 postcode area) and is nearly three times Chichester’s average property value (£405,348).
This was largely due to the £2.525m sale of a refurbished seven-bedroom, six-bathroom, five-reception room, 5,569 square feet behemoth of a home that was sold in West Street in September of last year.
After four years at the top, North Pallant has been knocked off its perch as the most expensive street in Chichester. With an average value of £1,155,000, it is now the third most expensive street in Chichester, having been pipped to second place by Brandy Hole Lane, with each of its 42 homes having an average value of £1,160,000.
There are six other streets in the PO19 postcode area that have broken through the £1million mark, after an astonishing average increase in values across the city of 14.6% in the past year!
A special mention should be made for the runner-up (Brandy Hole Lane) though. As there are 42 homes in Brandy Hole Lane, compared to 24 in West Street and 20 in North Pallant, its total value of £48.7m overshadows West Street’s £28.1m and North Pallant’s £23.1m.
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, West Street doesn’t even make the top 40 now(!), finding itself some way off the overall winner, which is Spinney Lane in Itchenor. The 31 homes of Spinney Lane have an average value of £2,930,000, meaning the street as a whole is worth a cool £90.8m!
In recent years there have been single house sales in Spinney Lane of £4m & £2.39m in 2020, £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 an estimated value of £5.6m.
To keep up to date with the ever-changing landscape and house prices of Chichester’s property market, please visit www.bit.ly/chipropertynews to subscribe to the free weekly Chichester Property News e-newsletter.
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