The snow has thawed out and as March is typically the time the property market awakens from its winter slumber, I thought we’d take a look at what’s for sale in Chichester.
Of course, what you can buy is largely dependent on your budget. The cheapest property in Chichester costs just £17,000 – a three-bedroom mobile home on Lakeside Holiday Park. 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 a whopping £170,000! It’s a two-bedroom apartment in Charles Avenue, which has been on the market since last April.
On the other end of the scale, the most expensive property for sale in Chichester today is a six-bedroom detached house in Salthill Road priced at £1.55m.
Clearly property in Chichester is expensive…some more so than others! Let’s assume your budget is somewhere in the middle of those two extremes. In fact, the median property for sale in Chichester costs £335,000, which is up from £315,000 compared to 12 months ago. At that price you could choose to buy a two-bedroom flat in Summersdale, or a three-bedroom semi-detached house in Parklands or Westhampnett.
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:
One-bedroom flat = £210,000
Two-bedroom flat = £279,950
Two-bedroom house = £300,000
Three-bedroom house = £385,000
Four-bedroom house = £525,000
Five-bedroom house = £650,000
What’s interesting to see is how much (or how little!) choice there is for prospective property buyers in Chichester right now. There are 509 properties for sale, of which just 305 are still available to buy and 204 are now sold ‘stc’ (subject to contract/completion).
Those looking for a three-bedroom house have the most choice, with 87 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 (49) than there are one-bedroom flats (13 available), two-bedroom flats (32 available) or two-bedroom houses (37 available).
It seems that the low supply of property in Chichester is limiting prospective buyers’ choices. This keeps house prices resilient and makes finding that dream home just a little bit trickier.