Chichester Prices

[Tired of Waiting]

Thanks for the kind words, however, wife getting fed up being in rented (...)

The 3 biggest employers in Chichester are all public sector: St. Richards, County Council and District Council. That means that the government cuts WILL affect Chichester, strongly - and permanently, as these jobs will never come back. The gov. will cut by 6% per year, for 4 years, starting in April 2011, totalling around 25% in April 2014. Also housing benefits cuts will undermine the BTL sector.

House prices in the Chichester, still near peak, will NOT be immune to these cuts, and will be falling for the foreseeable future, for many years.

So, did you show her that "Radio Programme from the future - 3 years ahead."? I did show to mine.

I think all readers of this Chichester thread will benefit from listening to it, to glimpse the future, 3 years ahead:

What happens to people when this happens? This radio programme, from a place where House Prices are falling for 3 years, gives some good indications about the future in Chichester:

LINK: http://jonathandaviswm.com/jonathan-davis-media/303/

(With tanks to 'The Fish', for posting it originally.)

_____________________________________

Chichester is behind in this curve:

Edited September 19, 2010 by Tired of Waiting

[CHICHESTER WAITING ROOM]

Yes - thanks we both listened to it....................I posted comments in your WS thread.

[Tired of Waiting]

Yes - thanks we both listened to it....................I posted comments in your WS thread.

Have you played with Property Bee in the Chichester area since Halifax's -3.7% in a month?!

Take a look there.

First just do a search limited to the past 3 days.

And then include "Sold STC".

Just compare how many properties entered the market or reduced its prices in the last 3 days,

with how many were sold.

The HP crash is finally coming to Chichester!

[Tired of Waiting]

Good news, LHA will be cut by around 5% per year for the next 2 years. That will reduce landlords' yields, and consequently their properties value = people's housing costs.

The best part of it is that we won't have to wait until 2011. The smarter landlord will sell ASAP, to avoid the capital loss.

Chichester, LHA reforms:

______1 ROOM__1 BED___2 BED___3 BED___4 BED___5 BED

Weekly

Now.__£71.34____£132.33__£166.85__£201.37__£276.16__£379.73

2011__£68.08____£126.58__£159.95__£189.86__£261.44__ - 0 -

Monthly

Now.__£309.14__£573.43__£723.01__£872.60__£1,196.68__£1,645.48

2011__£295.01__£548.51__£693.11__£822.72__£1,132.90__ - 0 -

Cut:___-4.57%___-4.35%___-4.14%___-5.72%___-5.33%

Of course this will reduce average rents, and in 2012 the new 30th percentile will be lower still. And the government may repeat it for a few more years. We finally have a rational government.

EDIT: Sorry, i forgot to include the source: http://www.voa.gov.uk/LHADirect/Documents/LHA_percentile_rates_Oct_2010.html Official!

.

Edited October 27, 2010 by Tired of Waiting

[Tired of Waiting]

Yes - thanks we both listened to it....................I posted comments in your WS thread.

I think this Spring will be carnage, with lots of "pent-up" sellers hitting the market. I started a thread about that in the main section.

And I think it will finally start to affect Chichester as well. In general, prices are affected mainly by 2 things: Mortgage availability; and expectations. And I think poorer areas mortgages become more important, and in rich areas expectations becomes more important.

Chichester pent-up sellers have finally realised that prices will not go up anymore, and should flood the market this spring. Prices will go down monthly. Only the first to reduce prices will sell for a reasonable amount. The others will just chase the market downwards.

I mentioned the Chichester case here:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=157276&view=findpost&p=2847340

[Tired of Waiting]

http://www.independent.co.uk/news/uk/politics/west-sussex-county-council-to-axe-up-to-1300-jobs-2211952.html

Up to 1,300 jobs are set go at a county council as it looks make savings of £79 million over the next three years.

An estimated 500 posts - 100 of which are temporary agency staff - will go at West Sussex County Council between now and 2014.

The Conservative-led authority also said a further 800 jobs may be transferred to employment with other service providers.

So ultimately from the headline figure only 400 jobs to go.

[Will!]

On 29/12/2009 at 08:01, Flashie said:

I'm sure I've read recently that Chichester is an area with one of the highest disposable incomes per resident in the country - sorry I don't have the link - but this would suggest low or no mortgages for many residents. Maybe this is one of the factors causing price resilience in the area.

Not sure about that:

https://www.plumplot.co.uk/Portsmouth-salary-and-unemployment.html

[Will!]

So it looks like my job is moving to Chichester.

However, it looks like quite a lot of Chichester is prone to flooding.

https://flood-warning-information.service.gov.uk/long-term-flood-risk/map?easting=486835&northing=105615&map=RiversOrSea

[spacedin]

On 24/07/2021 at 10:57, Will! said:

Not sure about that:

https://www.plumplot.co.uk/Portsmouth-salary-and-unemployment.html

That is a bit laughable.. Gosport is probably the worst of all of those areas in almost every respect and Havant isn't that far off mainly due to Leigh park. Whereas Chichester is the best of all those places, maybe in competition with Southsea if you want to live on Portsea Island.

Chichester is not a cheap place to live either. Pensioners clearly skewing the figures but still can't get over the supposed average salary in Gosport. It doesn't make any sense.

Edited July 25 by spacedin

[Data Dave]

Source: LR

[Data Dave]

Prices in Winchester are much more volatile than neighbouring areas, with higher highs but lower lows, between 5-9% in some cases when compared to UK av.

I wonder why that is, do people tend to rush to buy up then sell off and drift further down the coast as prices are cheaper...?

[Data Dave]

Bit of skew as Winchester is obviously a smaller data set vs the UK & England av' but none the less just to highlight the volatility there

[Will!]

1 hour ago, Data Dave said:

Prices in Winchester are much more volatile than neighbouring areas, with higher highs but lower lows, between 5-9% in some cases when compared to UK av.

I wonder why that is, do people tend to rush to buy up then sell off and drift further down the coast as prices are cheaper...?

What’s Winchester got to do with Chichester?

[RentingForever]

20 hours ago, Will! said:

So it looks like my job is moving to Chichester.

However, it looks like quite a lot of Chichester is prone to flooding.

https://flood-warning-information.service.gov.uk/long-term-flood-risk/map?easting=486835&northing=105615&map=RiversOrSea

I lived in Chichester for nine years, on and off. Never saw a flood in all that time.

It's a lovely place to live, albeit expensive housing costs. The local letting and estate agents are the most lying and venal I've ever dealt with though!

[Data Dave]

3 hours ago, Will! said:

What’s Winchester got to do with Chichester?

Will im an idiot, I read Winchester! Dough. Ignore me

[Will!]

3 hours ago, RentingForever said:

I lived in Chichester for nine years, on and off. Never saw a flood in all that time.

It's a lovely place to live, albeit expensive housing costs. The local letting and estate agents are the most lying and venal I've ever dealt with though!

I’ve had a mooch around it a few times and the old city is certainly picturesque. Stockbridge seems a bit cheaper and is on the way to the beach. Do you know anything about it?