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What is it like buying a house in Chichester?

Chichester might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of West Sussex.
Before looking for a house for sale in the city of Chichester we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Chichester.

House for sale in the same UK region

Below are a list of towns with a similar location to Chichester.
Reading these analysis will help you evaluate the different houses for sale currently listed in South East:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.

In Chichester, what is the asking price in general for a house for sale?

When investors make offers for houses for sale in Chichester, the average price asked by the homeowners works out to be £428,341.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Chichester is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

Average price of houses for sale in Chichester

Average asking price (1 bed) £201,497
Average asking price (2 bed) £333,237
Average asking price (3 bed) £466,391
Average asking price (4 bed) £653,984
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Chichester, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £4,110 will help them to have a more holistic understanding.

Invest in houses for sale in Chichester with the right professional advice

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.

Are there any important statistics about the population of Chichester?

Is the crime rate bad in the city of Chichester?

For the city of Chichester, crime rate is at 150. So for every 1000 people in the area, 150 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Are the deprivation levels of the UK any different to Chichester?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Chichester is 19% and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

The city of Chichester, situated in West Sussex, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Chichester and its demographics will be compared to its wider location (South East). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Chichester. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What does the population of Chichester look like?

In total, the number of people in Chichester is 30,184. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Chichester, depending on where exactly you are.

How has Chichester changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Chichester has changed by 3%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 3% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Chichester?

7% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Chichester have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

What’s a social grade score and how does it relate to Chichester?

In the city of Chichester and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.

In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.

When trying to determine if the area of Chichester has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 26%.

Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

How much do people in Chichester earn?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Chichester. Compare the area’s average household income of £43,400 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 26% for more conclusive data on the affluence of the area.

Is there sufficient green space in Chichester?

Whether you view green space in Chichester as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Chichester, the number of acres of green space for every 1000 people currently is 6.3 which can be measured against the UK average of 1.7.

What is the education level like in Chichester?

In Chichester, the proportion of people who have a degree is 34%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Chichester is £43,400.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

What is the final sale price of a house in Chichester?

As well as looking at the asking price for house for sale in Chichester, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Chichester.

Houses for sale, are sold on average in Chichester, after the influence of these factors, at £352,694 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 7% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £534,535
Aerage sold price (semi-detached) £376,740
Aerage sold price (terraced) £348,007
Aerage sold price (flat) £231,068

This table above shows the average sale price for each variation of houses for sale in Chichester.

Housing category Sale price per square foot
Aerage sold price/sqft £3,710
Aerage sold price/sqft (new build) £3,520
Aerage sold price/sqft (old stock) £3,700

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Chichester is £3,910.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Finding the ideal house for sale for you

Many criteria impact the price of houses for sale in Chichester.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

Always consider average rental yield when searching for houses for sale in Chichester

Is the housing market in Chichester growing?

The growth of an area like Chichester can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Chichester growth rate no relevant data for this city 7% 7%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Chichester if you want to find out the exact reasons for the housing change.

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Chichester. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Chichester.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (West Sussex), a regional level (South East) and finally on the level of the city talked about in this article, Chichester.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Chichester 3.6% £1,268 140% 12.0%
West Sussex 3.49% £1,280 132.83% 17.69%
South East 3.58% £1,301 127.50% 16.69%

You may also find it useful to compare the data above to the number of properties sold per month Chichester experiences. This figure for house sales per month is 30. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.