How much does a house for sale cost in Chichester?

As a landlord, whenever you are looking at houses for sale in West Sussex, you could find varying prices throughout an area like Chichester. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Chichester to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Chichester will be revealed. Keep reading.

A house for sale appropriate to your needs

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.

Professional advice for houses for sale in Chichester

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.

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 prices for the houses for sale in Chichester

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £4,110. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Chichester has a lack of supply of housing in certain categories.

In general, for the city of Chichester, what are the final purchase prices for the houses for sale?

In Chichester, houses for sale are sold at an average of £352,694. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Chichester. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

As you can see above, for Chichester, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 7% where lots of movement may inflate or deflate house prices.

Looking at the second table about Chichester, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Chichester is £3,910.

In Chichester, what are the demographics like?

In the city of Chichester, how much green space remains for residents?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Chichester, 6 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Chichester.

What is the city of Chichester’s social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Chichester in grades A or B which are the highest skilled roles in the country is 26%.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £43,400.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 26%.

What does the population of Chichester look like?

Population growth in Chichester is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Chichester, 30184 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Chichester in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Chichester, this change has been 3%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Chichester?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 7% in Chichester.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

How much do people in Chichester earn?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £43,400.00.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Chichester this figure is 26%.

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.

Is the crime rate bad in the city of Chichester?

The crime rate of Chichester must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of 15000%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (15000%) is both useful and is recommended to be compared to the average.

What is the education level like in Chichester?

In the city of Chichester, 34% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Chichester is £43,400.00. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

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

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Chichester, currently, £0 people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

Why you should consider the average rental yield when searching for houses for sale in Chichester

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Chichester.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (West Sussex) as well as the broader region; South East.

Also, you can compare other data to the table above such as the number of houses sold per month in Chichester which is 21 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Chichester is to invest in. Both in terms of rental yield and capital appreciation.

In Chichester, how has the number of houses changed?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Chichester at 1 year, 3 year and 5 year intervals:

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Chichester gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Chichester.

houses for sale in other cities and regions in the UK

If you are looking for similar places to buy a house that are just like Chichester, examine this short list of cities below from outside of the region of South East for some inspiration.

• aberthin in South East
• blackboys in South East
• falkirk in South East
• ardwell in South East
• chichester in South East

If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.

Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.

FAQ (Frequently Asked Questions)

Are there opportunities for property renovation in Chichester?

Properties in the city of Chichester may have the potential for renovation if there are a lot of planning permission approvals based on the area. There are 13 approvals every month with an approval of nan based on a population of 30184. Compare other places in the UK to make this figure make more sense.

What’s the number of property sales each month in Chichester?

21 property transactions are reported in Chichester each month, alongside a broader picture of approximately 1.1 million property sales across the UK.

What is the population change each year in a city like Chichester?

Calculating the evolution of Chichester’s population requires an examination of the population transformation over a decade, amounting to 7%, and the five-year adjustment at 3%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

How much are houses for sale priced at in the extended region of Chichester?

The current average price per square foot for a house in Chichester stands at £4,110, considering the mean cost for each square foot of houses for sale there.

Would acquiring a house for sale in Chichester be regarded as a high-priced option?

To work out if you are looking at an expensive property, find a house for sale and compare it to the average prices sell for. In Chichester this number is £352,694 and in the average for the UK is £286,500. Also, make sure you don’t miss a crucial step by following our tutorial when buying a house