Here is how much Chichester house prices increased by in June
House prices increased by 2.2% in Chichester in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.9% annual growth.
The average Chichester house price in June was £421,306, Land Registry figures show – a 2.2% increase on May.
Over the month, the picture was less good than that across the South East, where prices increased 2.7%, and Chichester underperformed compared to the 4.5% rise for the UK as a whole.
Over the last year, the average sale price of property in Chichester rose by £16,000 – putting the area 65th among the South East’s 70 local authorities for annual growth.
The best annual growth in the region was in Hastings, where property prices increased on average by 18.5%, to £252,000. At the other end of the scale, properties in Runnymede gained 0.9% in value, giving an average price of £433,000.
Winners and losers
Owners of terraced houses saw the biggest improvement in property prices in Chichester in June – they increased 2.4%, to £350,995 on average. Over the last year, prices rose by 4.3%.
Among other types of property:
Detached: up 2% monthly; up 4.7% annually; £665,567 average
Semi-detached: up 2.2% monthly; up 3.7% annually; £401,235 average
Flats: up 2.3% monthly; up 1.6% annually; £219,254 average
First steps on the property ladder
First-time buyers in Chichester spent an average of £320,000 on their property – £11,000 more than a year ago, and £50,000 more than in June 2016.
By comparison, former owner-occupiers paid £477,000 on average in June – 49.0% more than first-time buyers.
How do property prices in Chichester compare?
Buyers paid 18.4% more than the average price in the South East (£356,000) in June for a property in Chichester. Across the South East, property prices are high compared to those across the UK, where the average cost £266,000.
The most expensive properties in the South East were in Elmbridge – £650,000 on average, and 1.5 times as much as in Chichester. Elmbridge properties cost three times as much as homes in Southampton (£218,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Average property price in June
The South East: £355,948
Annual growth to June
The South East: +10.5%
Best and worst annual growth in the South East