The Intermediary – October 2026 - Flipbook - Page 96
L O C A L FO C U S
Nottingham
Chichester
focus on ...
CHICH ESTER
Each month, The Intermediary takes a close-up
look at the housing market in a specific region and
speaks to the experts supporting the area to find out
what makes their territory unique
S
ituated between the
South Downs and the
south coast, Chichester
boasts a varied property
market, stretching from
its historic cathedral
city to surrounding villages and
coastal communities.
Its connections to Portsmouth,
Brighton and London serve to aract a
diverse mix of buyers, although rising
borrowing costs continue to present
challenges. With the Autumn Budget
also fast approaching, questions
remain over how conditions will
develop in the final months of 2026.
In this Local Focus, The
Intermediary speaks to those with
boots on the ground to examine the
trends shaping Chichester’s property
market, from changing buyer demand
to recent volatility in mortgage rates.
Property values
The average house price in Chichester
stood at £432,000 in July 2026,
according to provisional figures
from the Office for National
Statistics (ONS).
This represents a 1.4% decline
compared with the same month
in 2025.
First-time buyers (FTBs) paid
an average of £339,000, down
1.2% from £343,000 a year earlier,
while the average price of a home
purchased with a mortgage fell by
94
The Intermediary | October 2026
1.2% to £431,000. Separate figures
from Rightmove put the average sold
property price at £410,996 over the
past year, 7% below both the previous
year and the 2023 peak of £441,463.
Flats accounted for the largest share
of sales, achieving an average price of
£235,598, compared with £421,749 for
semi-detached homes and £398,852 for
terraced properties.
Residential trends
Chichester’s residential market
remains active, although, much like
in the rest of the country, affordability
pressures and higher borrowing costs
continue to influence buyer behaviour.
Jamie Boxall, bridging,
development and commercial finance
adviser at Hearthstone Finance,
describes conditions as “steady but
selective”, with demand holding up
despite the area’s high property values.
He says: “Clients are still moving
and buying, but they’re much
more focused on the overall cost of
borrowing and how the mortgage fits
into their wider finances.
“I’d say appetite has been healthy.
We’re seeing some of the pent-up
demand from buyers who held back
during the higher rate environment
coming back into the market.”
Charloe Parker, senior business
development manager (BDM)
for the south of England at TAB,
similarly points to affordability as
a significant barrier, noting that
property prices remain well above
local earnings. According to Parker,
house prices range from 11.6 to 18.4
times the median salary of £35,264,
making deposits and existing equity
particularly important for buyers.
She says: “Buyers are cautious,
rather than absent. Purchase prices
are soening while rents are rising.
“That gap is pushing would-be
buyers, on extant leases, to rent
for longer as they wait for prices to
fall further.
“It’s also pushing more borrowers
away from high street lenders. They’re
looking for longer terms on joint
applications with family-assisted
deposits. In Chichester, these are
the norm.”
