Snapshot Of The Chichester Property Market

Here at White & Brooks, we pride ourselves on being experts in everything property related, especially in our specific West Sussex locations. 

Our regular market insight reports cover everything from average property prices and value increases, right down to transaction activity and statistics by property type. 

These are the latest findings, up to date as of January 2022. 

Residential sales

1. The average price of a property in Chichester is £479,499
2. This is 30% higher than the average for the South East and 77% higher than the average across the UK
3. Prices have increased 9% over the last 12 months and are 22% higher than five years ago
4. The combined value of homes sold in Chichester during the year amounted to £206,609,216
5. Over half of the properties sold were detached homes at an average price of £666,765
6. Terraced properties make up less than one fifth (18%) of the properties sold but experienced the highest price increase in the last 12 months 
7. The majority of properties sold in Chichester were priced between £220,000 - £605,000
8. The smallest annual price increase by property type was for flats, which also amounts to just 13% of properties sold 
9. The Avenue, PO19, has had the highest transaction in the last three months

Residential lettings

1. Rental values in Chichester have increased 10.2% over the last 12 months
2. Almost half of tenants are aged between 18 and 29 years
3. The average monthly rent for a house is £1,359
4. The average monthly rent for a flat is £875

National overview[1]

1. House prices across the UK have risen 10.2% in the year to October 2021
2. The average price of a home is now 16% higher than before the Coronavirus pandemic
3. The number of sales transactions reached 96,290 – 16% fewer than November 2020 but 24% higher than October 2021
4. The number of mortgage approvals during January-November 2021 was over 21% higher than the long-term average between 2013 and 2020
5. Average rental values across the UK are 2.5 higher in the year to November, excluding London

You can read your local Market Insights Report here: https://whiteandbrooks.co.uk/market-insight

For a more detailed analysis of your own micro-market, give one of our experienced agents a call.