So you’re thinking of buying a property in Chichester. What could you buy? Well that depends on what’s for sale in Chichester; so let’s take a look.
Of course what you can buy is largely dependent on your budget. The cheapest property in Chichester costs just £16,000 – a two bedroom mobile home on Lakeside. The problem is it’s not a permanent residence. The cheapest fixed abode in Chichester, excluding retirement and shared ownership properties, will set you back £129,950. That will get you a very pretty, if rather compact (at just 298 square feet), studio apartment opposite Florence Park.
On the other end of the scale, the most expensive property for sale in Chichester today is a seven bedroom detached house in Pine Grove priced at £1.75m (5,131 square feet).
Clearly property in Chichester is expensive…some more so than others! Let’s assume your budget is somewhere in the middle of that. In fact, the median property for sale in Chichester costs £320,000, which is up from £310,000 compared to 12 months ago. For that you could choose from a large two bedroom garden flat in Summersdale, or from several two or three bedroom terraced homes closer to the city centre, depending on whether you prefer more space or a quieter location.
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:
1 bedroom flat = £195,000
2 bedroom flat = £280,000
2 bedroom house = £305,000
3 bedroom house = £375,000
4 bedroom house = £499,950
5 bedroom house = £635,000
What was also interesting to see was how much (or how little!) choice there is for prospective property buyers in Chichester right now.
There are a total of 615 properties for sale, of which 344 are still available to buy and 271 are now sold ‘stc’ (subject to contract/completion). This is actually an improvement on the market a year ago, when just 321 homes were still available and 205 had sold, but it is still low for a city that houses 26,800 people.
Those looking for a three bedroom house have the most choice, with 108 available to buy in Chichester. It is the smaller homes, aimed at our first-time buyers, where supply is particularly lacking. There are actually more four bedroom houses available (52) than there are one bedroom flats (36 available) or two bedroom houses (48 available). Two bedroom flats, which are perhaps the most common of ‘first-time buys’, is only just a little easier to come by with 55 available.
It seems that supply remains tight in Chichester, which limits buyers choices, keeps house prices resilient, and makes finding that dream home just a little bit trickier.
