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Anyone else out there care to comment on Chichester Prices.

Market seems staganant - despite an abundance of EA's there's a distinct lack of SOLD boards

I wish Chichester would wake up to reality.

This has been on for months and moths and price remains the same regadless

postage stamp font garden fronting onto a pedstrain crossing on busy main road and 3rd bedroom cosy to say the least http://www.rightmove.co.uk/viewdetails-175...p;mam_disp=true

Or how about this gem of a bargain http://www.rightmove.co.uk/viewdetails-222...p;mam_disp=true Wonder why it's been on the market so long ! lol

A quick check of rightmove shows some apprent better value homes but I know the locations of nearly all the Chichester Properties am therefore able to make a pretty good assement as to whats HOT and whats NOT. Lets just stay I'm in no rush to offer on anything today !

There are still loads for sale in Chichester that have completely failed to reduce on price and literally been been on for months. I can almost hear them " We're in Chichester Darling - We'll just sit back and see what happens"

We are renting having done the right thing and made a significant reduction on our home to sell, (not a milion miles away), ealier this year.

I can only assume the multitude of EA's, (I can real of a dozen or so), are comfortable with this and having made lots of money in the past when the sun was shining.

The market here seems relatively stagnant in terms of completions from what I can see.

Many vendors need to wake up or resign themselves to not selling

Chichester desirebale value or market in denial - YOU DECIDE

Contributions ,(to those lurking locally & maybe without accounts - register and post it doesnt take long)

Happy to rent until reality sets in for others.

Edited by CHICHESTER WAITING ROOM
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As I have said previously, if you upgrade and pm me I would be happy to discuss house prices in Chi and the surrounding areas with you. Obviously I have some quite good info about different parts of the south coast.

Sorry was unaware you spoke before - I'm a regular forum use though not on this board........struggling to get my head my head around different acount upgrades & posting capabilities etc for newbies.(still confused I cant find this thread in chronological posting order unless I use search facility)...........looking into this and upgrade.

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Have requested an upgrade, however, still keen for folk to discuss prices openly here too.

Chichester confuses me. No local industry to speak of, but lots of (apparent) money being wafted around. Either everyone's living on credit, or people here have independent incomes. Which begs the question - are they more exposed to the credit crunch or less?

It's interesting to watch the trains come in in the morning. Most of the people who seem to have actual jobs here come in from the cheaper areas outside (Bognor, Emsworth, etc).

But the local EAs are pretty clueless. One has a sign up at the moment: "Originally £220k. Market price £210k. Offer me £205k and it's yours!". The market price would be £205k then, you idiot.

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  • 2 weeks later...

LOL

Maybe a lot of truth in what you say - many escaped London & still commute though I suspect many may be a bit plastic happy too.

Not everyone here is minted or keen to spend money though just look at the state of some of the interiors, (even evidence of bad taste bad spending is pretty scarce).

Hopefullly someone else may contribute to this thread from time to time.

Quite a few in this area seem to have apathy or ignorence regarding HPC and associated subject matter.

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Not Chichester but nearby town has closed satellite branch of Chichester based 'high brow' estate agents only after about one year or possibly less of opening. Might suggest prospects not so good for this nearby area.

Just thought I'd add my twopennorth. I went to see 7-8 houses in Chichester (and I mean IN Chichester) a couple of weeks ago, ranging from £315,000 - £495,000. In my feedback to the agents (requested by them I hasten to add) I said that I thought the prices were way too high but strangely enough they didn't seem remotely interested! A couple of the 'high end' ones were clearly only interested in my feedback if it involved the words 'I'd like to offer ....'.

I know that some of the houses I saw have been on the market for months and I know that some have dropped in price but there seems to be a reluctance to accept that the economy is tanking and house prices are falling. But I guess that's true of many places.

I'll wait until something decent comes on at a decent price - about next March/April is my guess.

PS I like Chichester - having lived in London for many years, followed by Oxford for the best part of a decade, I think that Chichester offers an awful lot. It has a decent cultural life, is architecturally attractive, has decent shopping (I don't really go in for shopping that much but can usually get what I want), has a good housing stock (by comparison with Oxford which, in my opinion has a very poor stock and as a city is saved solely by the univeristy - the old one that is), has access to fantastic countryside and the sea. What more could you ask really?

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I'm looking for a retirement property on the south coast between Poole and Brighton. Somewhere with four or five bedrooms, big kitchen/diner leading out onto a south or west facing garden, off street parking, double garage or workshop, close to a decent marina. I'm looking for a property that would have been £750k-£1000k at the height of the boom, but for £500k-£750k, I'm a cash buyer.

I looked at Chichester, the centre is beautiful and some of the local amenities are genuinely special, but outside the centre the town is just a sprawling, characterless 1960's estate. Started to look at some of the villages in the area. Nearest I've found to my brief is this,

http://www.findaproperty.com/displayprop.a...p;agentid=07941

Was on at £625k about a year ago, then withdrawn from sale, now offered at £550k but I guess they'd take £500k for a quick sale. In other words it's keeping up with the price declines posted on the Halliwide. Nice enough house, cheerful and bright, and with a terrific potential workshop. But no downstairs wc, despite looking spic and span in the photos it's actually a bit tired and needs smartening up, and the plot's really quite odd. The village has great road and rail connections, but it's certainly not chocolate box material. When I take a long hard look at it I really think it's only worth £375-£425k, and if it stays on the market for another 18 months that's where it'll get to.

I honestly don't think this denial phase will last much longer. Sadly we'll have over three million unemployed by this time next year, and that will result in tens or even hundreds of thousands of forced sales right across the price spectrum. On the south coast there's also a high percentage of another kind of forced seller, probate sales as the above averagely aged population die off.

As I talk to south coast EA's in Susses and Hampshire there's simply no doubt that they have a new realism, most seem to run two "books", no-hoper properties that they keep on their listings just to ensure their "For Sale" signs are well distributed in the area, and properties from "motivated vendors" who are willing to talk price. They know that unless they start selling properties they're going to go out of business, and there's a slow acceptance that easy credit's not coming back, so prices will have to adjust. There's also real apprehension about the coming recession.

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I'm looking for a retirement property on the south coast between Poole and Brighton. Somewhere with four or five bedrooms, big kitchen/diner leading out onto a south or west facing garden, off street parking, double garage or workshop, close to a decent marina. I'm looking for a property that would have been £750k-£1000k at the height of the boom, but for £500k-£750k, I'm a cash buyer.

I looked at Chichester, the centre is beautiful and some of the local amenities are genuinely special, but outside the centre the town is just a sprawling, characterless 1960's estate. Started to look at some of the villages in the area. Nearest I've found to my brief is this,

http://www.findaproperty.com/displayprop.a...p;agentid=07941

Was on at £625k about a year ago, then withdrawn from sale, now offered at £550k but I guess they'd take £500k for a quick sale. In other words it's keeping up with the price declines posted on the Halliwide. Nice enough house, cheerful and bright, and with a terrific potential workshop. But no downstairs wc, despite looking spic and span in the photos it's actually a bit tired and needs smartening up, and the plot's really quite odd. The village has great road and rail connections, but it's certainly not chocolate box material. When I take a long hard look at it I really think it's only worth £375-£425k, and if it stays on the market for another 18 months that's where it'll get to.

I honestly don't think this denial phase will last much longer. Sadly we'll have over three million unemployed by this time next year, and that will result in tens or even hundreds of thousands of forced sales right across the price spectrum. On the south coast there's also a high percentage of another kind of forced seller, probate sales as the above averagely aged population die off.

As I talk to south coast EA's in Susses and Hampshire there's simply no doubt that they have a new realism, most seem to run two "books", no-hoper properties that they keep on their listings just to ensure their "For Sale" signs are well distributed in the area, and properties from "motivated vendors" who are willing to talk price. They know that unless they start selling properties they're going to go out of business, and there's a slow acceptance that easy credit's not coming back, so prices will have to adjust. There's also real apprehension about the coming recession.

Silver Surfer - I'd strongly advise looking at the Aldwick Bay Estate in Aldwick, close to Bognor. It's as close to marinas as Barnham, is extremely well maintained, has a friendly atmosphere and is bang slap on the coast so that any house will be a matter of only a 5 minute walk to the beach. It's remarkably secluded here and you can walk along to Pagham harbour bird reserve if so inclined (well worth a visit to blow away the cobwebs) while also having easy access to Chichester and the countryside of the Downs.

And no, I don't have a property to sell here but if my commute permitted I would certainly be watching the Bay estate with a close eye.

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Quite a few in this area seem to have apathy or ignorance regarding HPC and associated subject matter.

We have friends in Weshampnett and can confirm that generally, people in Chichester are still deluded about property values and their future direction.

Our friends also mentioned water supplies regularly being limited to maintain drinking water provision. Once this was pointed out we did then notice all the larger, expensive and DIRTY cars on a visit when a hosepipe ban was in force.

That's pretty funny when you think about it. The traffic on the by-pass on a Saturday morning was pretty funny too. We could have driven in and out of Cheltenham twice (20 miles through suburbs) in the time it took us to grind a few miles round Chichester.

I would not move to Sussex from Gloucestershire now even if I could buy a bigger and better house for less money. I would certainly try to stop my kids moving there to raise a family however generous a job offer might be. Would rent there at a pinch for a good contract rate but if the water supply became unpleasantly inadequate it would not be worth staying around just for money.

http://www.liv.ac.uk/news/press_releases/2006/07/SWIMMER.htm

Extract:

Professor Ed Maltby, Director of the Institute for Sustainable Water, Integrated Management and Ecosystem Research (SWIMMER), said: “The South East has low rainfall relative to other UK regions and less available water per capita than drought-stricken Sudan. Hotter summers will mean even lower river flows and higher demand for garden watering and irrigation, leading to inevitable restrictions by the water providers.

“This new project tackles problems of low water supply by employing the Ecosystem Approach, a methodology to aid decision making which will help achieve sustainable use and conservation of water-dependent natural resources. Our project advisors will work closely with stakeholders to help reduce pollution and advise on strategies for the more efficient use of water. Without these methods in place the cost of water will continue to rise; permanent hosepipe bans may be put in place and stretches of river will dry up, destroying wildlife habitats.”

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If you are looking just outside Chichester there are many private estates along the coast from Aldwick. The Bay is lovely, then you get to Felpham with the Beach Estate, the Summerly and the Roundle, along a bit more into Middleton you get the Sea Lane Estate and then further still you get to Elmer with Elmer Sands and the Harefield. Dont go any further than that or you get to Littlehampton.

Barnham prices are a little higher than some of the other villages, this is because of the train line into London so you get commuters even that far out. If you don't need to commute I dont see the point in paying the premium.

This is on the Summerley

http://www.rightmove.co.uk/viewdetails-107..._showcase=false

http://www.rightmove.co.uk/viewdetails-190...p;mam_disp=true

Barnham

http://www.rightmove.co.uk/viewdetails-142...p;mam_disp=true

If you want character you cant beat this..

http://www.rightmove.co.uk/viewdetails-190...p;mam_disp=true

This one has a lovely pub down the road doing great food and their own beer

http://www.rightmove.co.uk/viewdetails-197...p;mam_disp=true

And finally this one is on the Aldwick Bay Estate which someone else mentioned. My personal favorite.

http://www.rightmove.co.uk/viewdetails-237...p;mam_disp=true

But if the marina is important you you cant beat Hayling Island and is amazing...

http://www.rightmove.co.uk/viewdetails-190...p;mam_disp=true

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Silver surfer - The original Barnham property you mentioned is IMO overpriced for that area. I know the area well and personally would avoid if I had that sort of money. No decent pubs in village, dense mixed housing tucked away nearby and plenty of bored dysfunctional adolescents. Humberts are a so called prestige agent & IMO they often overprice and especially outide the city. Some intersting links posted by the conveyancer (thanks for the upgarde info btw <_< ), I personally am not keen of the other Barnham property on the links & too higher money even as asking. Plans for an Eco town (with potential the social housing issues that affect other areas) at Ford, ( nr barnham), aren't being well recieved at the moment. Council tax bandings for some newer properties in the area can be grossly unfair, (close relative has a small/moderate 3 bed detached banded F near Climping).

Re Aldwick - Ken the boss EA at Coastguard Properties used to have most of Aldwick bay in the bag. We considered Aldwick Bay but transport issues for kids schooling further afield wewre a factor. It's a very pleasant estate and one or 2 other small private type developments nearby too. Nearby Bognor regarded as rough by some and not a place I would choose take my wife out for an evening, (my avoidance not based on hearsay !)

Conveyancer - My wife tells me the link you declared your favourite is one she was looking at recently - top choice & I'd consider a move east of chi for that if I had that much dosh to play with !

Silver surfer - East of Littlehampton I found this

http://www.rightmove.co.uk/viewdetails-174...p;mam_disp=true

I know the estate well - quiet and very with well to do mature folk who tend to use Rustington for local shops.

Silver surfer - If you like top be close to a marina keep an eye on these for the future http://www.rightmove.co.uk/viewdetails-199...p;mam_disp=true

Silver surfer - price too high but I suspect you may like this............

http://www.rightmove.co.uk/viewdetails-103...p;mam_disp=true

Itchenor very pleasant and a bit of a well kept secret IMO as is birdham pool. Now for my sad dreamer moment >>>>>>>>>>>>>If money was no object and I wanted a modern build thats has more taste than many in pretigious sandbanks then I'd be tempted with either of this http://www.rightmove.co.uk/viewdetails-109...p;mam_disp=true

In contrast price wise & purely for interest............South of Chichester the town of Selsey has made the press re coastal defence concerns, however, a bit of a bargain just went under offer http://www.rightmove.co.uk/viewdetails-197...p;mam_disp=true

Back to the City : A personal favourite that went under offer quickly due to location , character, and relative size of accomodation area - shame it was asking 200k over my ideal max budget................ http://www.rightmove.co.uk/viewdetails-231...p;mam_disp=true

As commented by chi chi observer - many still in denial IMO. I agree re poor attitude and stuffy responses from many agents when one talks of lower offers/prices etc.

Thanks to all for contributions on this thread..............nice to see I'm not only one with interest/input re this area & surrounding areas. Sure there may be a little bit of optimisrtic discussion here (certainly on my behalf) but its refreshing to see some real discussion on properties in areas relative to the contributors.

Hopefully folk will return to this thread and contribute re Chichester and local area.

Edited by CHICHESTER WAITING ROOM
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  • 4 weeks later...

Anyone else out there care to comment on Chichester Prices. (...)

Market seems staganant (...)

Chichester desirebale value or market in denial - YOU DECIDE (...)

Happy to rent until reality sets in for others. (...)

------------

I live near Chichester, and I agree that the prices there are only now starting to fall, but too slowly and too little. They are in denial. Only forced sales bring house-prices down fast. Otherwise it can take years for the penny to drop! As Chichester didn't have too many new flats, as Leeds, say, it will take a while, I fear.

If you are happy to rent, wait for at least another year. the UK market has a lot to fall, and Chichester has everything to fall yet. It is still close to the peak. Silly. Sad.

We are tired to wait, are not happy renting a small, over-priced, ugly flat, but we have no option.

Some sellers in Chichester want to rent "for 6 moths or a year", until the market "normalizes". Most sellers think that 2007 was the normal! They (and the BBC) think that we are now in a exceptional "credit crunch" causing a temporary crash. They didn't get yet that it was the other way around, that the housing bubbles in America and Britain burst, home owners started defaulting in the USA, creating the banks crises, and this will bring house prices back to NORMAL, sustainable levels, at least 30% down from the peak. But perhaps lower, or even much lower. You should wait.

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  • 4 months later...

Apologies for not responding to above but thanks for all comments on this thread to date.

Frustratingly I just spent considerable time typing a very constructive post which due to having a moment I deleted.

In summary we are still renting in the area and have been since seling on back of offer at start of 2008 having significantly lowered our selling price to reflect what we accepted was a real need for downwards market adjustment. As a result we sold whilst other sellers properties stagnated.

Getting on for a year later we are still amazed that Chichester seems to be bucking the downward trend.

Have seen 1 or 2 houses selling for what we regard as sensible money relative to an adjusted market but nearly all are still in my view overpriced and prices not adjusting downwards as in other nearby areas.

Have tried a couple of offers recently but met stubborn resistance with one seller insisting on asking price some 20% higher than price he paid in Summer 2008. To be fair the seller had caused some interior improvements etc but the improvements in my view negated by dropping market hence I offered what was paid last year for the house still in need of spending.

Anyway thats my situation - happy to wait but I dont want to repay mortgage when I am 70 hence happy to buy If and only IF price is right.

Surely prices have to drop to reflect average earnings relative to average property price.

Please post/share your experinces of local market and state of play.

Edited by CHICHESTER WAITING ROOM
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Apologies for not responding to above but thanks for all comments on this thread to date.....

I'm in the same situation (same age even! spooky). Prices just seem to be staying put in Chi.

BUT if estate agents can claim their "green shoots" of recovery on flimsy evidence then I can have my "green shoots" of HPC:

- there's a lot of properties for sale on rightmove that have been there for ages (6 months plus). Capitulation will happen at some point.

- rents are way down, and the supply is much bigger than normal. When I moved to Chi 5 years ago a 1-bed flat was 700pcm and you had a choice of 5-10 at most. Now it's at least 50pcm cheaper and you can take your pick from 50 or so properties. That's a sign of reluctant landlords, and a potential (mini)flood of properties for sale, bringing prices down

- where's the thriving local industry to keep prices high? The JobCentre on South Street is remarkably busy these days.

Many of the people I work with bought in Chi in the 90s and were able to get family homes on 3-4 times average income. People think that Chi will always be expensive, and yes it will have a small premium on the surrounding areas, but I think those affordable income multiple will come back in another 2-3 years of recession.

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Renting Forever - Glad someone else local to me has similar housing and age issues LOL.

In answer to your question the local thriving industry is Rolls Royce at Goodwood loads of staff living locally. Car industry on verge of collapse, BMW profits down for BMW and Minis but RR profits are up ! Cant see local lettuce pickers are propping up the market and Lord March whilst seemingly busy has event staff hired as required for Goodwood events.

Driving around Stockbridge, Willowbed, Broyle, Summersdale & Stockbridge finds many 3/4 bed houses obviously occupied by retired folk, (old cars unkept gardens net curtains and bird baths LOL). Not looking down my nose at them but this shows lots of mortgage free property with wealth from accquired equity rather than current liquidity. Spoke recently to a property owner on in one of those areas who said nearly all neighbours retired & had been there since homes built in 70's but still there long after kids had flown the nest...........I wouldnt mind but when they do decide to rarely sell and downsize they want all the money for their avacado polystyrene celing tiled nightmares !

Would be interested to know which EA office you refer to - I know the K&C office shut but was told they were moving due to rental costs. Embarrasing having to ask what with being on Rightmove Primelocation daily and thumbing the Chichester Observer weekly.

Off to watch tonights recording of BBC2 Property Watch............hopefully moneyweek commentator whose name escapes me presently, (I'm having an early senior moment), will continue to jump on any green shoot spin.....LOL !

Will definitely try to keep adding to this thread and hope other sensible contributions follow.

Cheers & Regards

Edited by CHICHESTER WAITING ROOM
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Would be interested to know which EA office you refer to - I know the K&C office shut but was told they were moving due to rental costs. Embarrasing having to ask what with being on Rightmove Primelocation daily and thumbing the Chichester Observer weekly.

Zone on Crane Street. Office now shut but they've put up a board of properties in the window of the nearby restaurant, so possibly gone internet-only?

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