The Intermediary – October 2026 - Flipbook - Page 99
L O C A L FO C U S
Chichester
A buyer’s market
JOSH HALSEY
advisor and director at Chatsworth Mortgage Group
hichester remains a resilient market, but it’s more balanced
than it was a couple of years ago. Well-priced homes are still
selling, but sellers are having to be realistic. Buyers who come
in with their finances sorted and an agreement in principle (AIP)
are in a strong position to negotiate. It is most definitely a buyers’
market at present along with a lot of surrounding areas.
I think the appetite has certainly been there, and this is most
definitely a buyers’ market. Lender competition has kept a good range
of products available. Clients who held off earlier in the year are
now coming back to move or remortgage, rather than waiting for the
“perfect” rate.
I have always said to all of my clients, “there is never ever a perfect
time to buy” as there is always something going on at home and
abroad which can put buyers and clients who need to remortgage off.
However, acting early, whether it is having an AIP in place or started the
remortgage process six months before your current deal ends, is key!
e high street lenders, such as Halifax, NatWest and Barclays,
remain the backbone for most residential clients. For buy-to-let and
more specialist cases, we use lenders such as e Mortgage Lender,
Landbay and Vida. For private clients and higher-value properties,
which Chichester has plenty of, private banks are increasingly part of
the conversation. Our clients are a mix of first-time buyers, families
moving up the ladder, and landlords. Over the past year we’ve seen more
first-time buyers getting help from family. We’ve also seen more older
borrowers looking at their options as fixed rates come to an end, as well
as seasoned property investors still buying.
In terms of development, the council’s new Local Plan to 2039
sets out major growth areas, including Land West of Chichester at
Whitehouse Farm and the new Tangmere development, where Vistry has
approval for around 1,300 homes. at will bring more new-build stock
and more choice for first-time buyers in particular. is is even more
important with a new scheme to help first time buyers expected in the
upcoming Budget.
Buy-to-let has been more selective, but far from dead. Rent cover
tests mean landlords are putting down bigger deposits or looking at
options such as top slicing, where personal income helps support the
loan. We’re seeing more purchases through limited companies, and more
interest in HMOs for the stronger yields, although these need the right
licensing and the right lender. Professional landlords who plan properly
are still growing their portfolios.
C
£1,333 in August 2026, up 2.9% from
£1,294 a year earlier.
Parker points to particularly high
tenant demand in Chichester, with
the area recording 659 rental searches
per 10,000 people. By comparison,
rental availability stood at just 31
properties per 10,000 people, below
the UK average.
Despite these conditions,
Chichester’s high property values can
make achieving sufficient returns
challenging for landlords, with Parker
citing gross yields of approximately
4.6% in the PO19 postcode area.
She says: “There are lots of limited
company landlords, lots of portfolio
landlords and lots of big deposits.
“It isn’t a simple market. High
prices, stretched affordability and
tight yields mean complex cases are
the norm.”
This has placed greater emphasis on
the financial viability of individual
investments, with advisers reporting
that landlords are scrutinising costs
more closely.
Boxall says: “Landlords are looking
closely at purchase price, achievable
rent, mortgage costs, tax, EPC
requirements and their eventual
exit strategy.
“I’m still seeing strong interest
in limited company BTL, portfolio
lending, houses in multiple
occupation (HMOs) and specialist
investment finance, particularly from
experienced investors.”
He adds: “The big change is that
investors are much less willing to rely
on capital growth alone. They want
the numbers to work.”
Halsey also reports continued
activity among professional landlords,
despite ongoing pressures.
He says: “Rent cover tests mean
landlords are puing down bigger
deposits or looking at options such as
top slicing, where personal income
helps support the loan.
“We’re seeing more purchases
through limited companies, and more
interest in HMOs for the stronger
yields, although these need the right
licensing and the right lender.”
Nevertheless, Halsey believes
opportunities remain for experienced
investors, as he notes: “Professional
landlords who plan properly are still
growing their portfolios.”
On the horizon
As we enter the final months of
2026, Chichester’s property market
appears set to maintain a steady level
of activity, supported by its appeal to
a broad range of buyers and ongoing
housing development.
Although affordability remains
a challenge, particularly for firsttime buyers, the area’s growing
demand and increasingly complex
financing needs continue to present
opportunities for intermediaries.
While much will depend on the
long-term direction of mortgage
rates and the impact of the upcoming
Autumn Budget, there are certainly
reasons for cautious optimism as the
year draws to a close.
As Boxall observes: “There’s
definitely a feeling that people are
geing on with their plans rather than
waiting indefinitely for rates
to fall.”
October 2026 | The Intermediary
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