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Having featured the most expensive streets in and around Chichester last time out, I will now turn my attention to the cheapest streets in Chichester.
There are a few reasons as to why identifying the ‘cheapest’ streets is sometimes misrepresentative though. For instance, St. Cyriacs in the heart of Chichester’s city centre makes the top five on account of it being made up nearly exclusively of one-bedroom flats (at an average value of £184,000, which isn’t exactly ‘cheap’!). Mobile homes also create the same affect, particularly when you expand the search to include Selsey and the Witterings, rather than focusing solely on the PO19 postcode area.
Another reason the data can be skewed (and I have to use a little local knowledge to filter through it) is a more recent phenomenon; properties sold under shared ownership. You see, according to Zoopla the cheapest street in Chichester is Silverlock Close, which is a newer part of the Swanfield estate. The £129,000 average value in this row of two and three bedroom houses seem like a steal; until you realise they were sold as 50% shared ownership and thus their true value is actually double this figure.
So, what’s really the cheapest street in Chichester when you filter all this out? Well, in the PO19 postcode area that would be Lennox Road, with an average value of £167,000. The 81 properties in Lennox Road are all flats, most of which are rented out socially or from the council. Their value has increased close to 10% in the past year…so the street’s a little less cheap than it was!
In second place is Douglas Martin Road; another street located on the doorstep of St. Richard’s Hospital, which again is predominantly made up of flats. Each of the 26 homes here have an average value of £170,000.
Whilst in third place we move across to Parklands, where Bishop Luffa Close’s homes have an average value of £181,000. Considering it is positioned right next to some of the best regarded schools in the area, this makes one of its 65 properties attractive when it comes to their school catchment area.
When you compare this to last week’s article, when I was writing about a home worth in excess of £5m, it just goes to show what a vast difference in wealth there is in Chichester, despite it being a relatively small city.
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2 bed house in Chichester,
£299,000, 4.4% yield
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Summary:
2 bed house in Chichester
Listed for sale on 24/06/21 @ £310,000
Now = £299,000
Rent = £1,100pcm
Yield = 4.4%
Last sold for £230,000 in 2016 (+30% in 5 years)
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3 bedroom house in Chichester
(Lloyd Road)
£1,300pcm
- 2 double bedrooms & 1 single
- Excellent condition 'eco-house'
- En-suite, bathroom & cloakroom
- Two allocated parking spaces
- Available mid September
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3 bedroom house in Chichester
(Whyke Close)
£1,100pcm
- 2 double bedrooms & 1 single
- Close to city centre
- Modern kitchen & bathroom
- Garage avalable upon request
- Available mid September
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I was asked this week what I think about the potential changes to Section 21 legislation (i.e. 'no fault' evictions). The short is not a lot, as I can only deal with the law as it is currently, as opposed to trying to second-guess what might become of it.
Having said that, it is very likely the law surrounding notices to tenants will change quite significantly in the near future. It is due to revert back to normal from 1st October i.e. providing 2 months' notice, as opposed to 4 months currently and 6 months at the height of the pandemic.
The fact remains that only a tenant or a court can legally end a tenancy, regardless of what paperwork is served upon a tenant. Typically a landlord will be only too happy to continue a tenancy with tenants who are paying the rent and looking after the property.
On occasion though, a landlord may need the property back - either to sell it or to move in to themselves. The pandemic, along with increased legislation and taxation towards landlords, has only served to increase this need, for which a mechanism must remain in place for if/when they change the process towards serving notice upon tenants.
The fact also remains that Section 21 (remember, cast as the 'no fault' eviction process) is largely used to evict tenants who are in rent arrears or breaching their tenancy agreement. This is far simpler than the other 'fault-based' notices that require court proceedings. Protections therefore need to be in place so that there is a sound way to evict these non-paying, or non-law-abiding, tenants.
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| CLIVE JANES |
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01243 624599 |
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Voted 'Best Letting Agent in Chichester 2020'
with a 5/5 average rating from 171 customer reviews |
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