Last week I looked at what properties were for sale in Chichester. This week I thought I’d cater for those who aren’t yet in a position to buy and instead are looking for a property to rent in Chichester. It should also help Chichester’s landlords see how their properties fit into the rental market.
Of course what you can rent is largely dependent on your budget. The cheapest property in Chichester costs £380pcm (per calendar month). The problem is it’s a single room in a house, rather than a whole property. The cheapest property you could call your own in Chichester is a one-bedroom apartment in Woodlands Lane, which is up for rent at £625pcm.
On the other end of the scale, the most expensive property for rent in Chichester today is a four-bedroom detached house in Westhampnett, which is available to rent for £2,700pcm. It’s been on the market since November mind, so doesn’t look realistically priced to me!
Clearly rental property in Chichester is expensive…some more so than others! Let’s assume your budget is somewhere in the middle of the market. In fact, the median property for rent in Chichester costs £995pcm, which is the same figure as it was 12 months ago. For £995pcm you could choose to rent a modern two-bedroom apartment in Graylingwell Park, or, if you’d prefer a house there are a couple of two and three-bedders available throughout the city.
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 = £750pcm
Two-bedroom flat = £895pcm
Two-bedroom house = £950pcm
Three-bedroom house = £1,100pcm
Four-bedroom house = £1,520pcm
What was also interesting to see was how much (or how little!) choice there is for prospective tenants in Chichester right now.
There are a total of 208 properties for rent, of which 128 are still available to rent and 80 are now “let agreed”. This is actually a significant improvement on the market a year ago, when just 111 homes were still available to rent; but it is still low for a city that houses 6,356 private renters.
Those looking for an apartment have the most choice, with 38 one-bedroom flats and 24 two-bedroom flats available to rent in Chichester. Houses are in shorter supply, with 18 two-bedroom houses, 19 three-bedroom houses and just 12 four-bedroom houses available to rent in Chichester.
It seems that rental supply remains tight in Chichester, which is limiting tenants’ choices, keeping rents resilient, and makes finding that dream home just a little bit trickier.