Chichester named least affordable area for first time buyers with homes costing 8.5 times annual salary

A housing report by Nationwide has shown that the city is the least affordable, outside of London, with first time buyers needing 8.5 times their annual takehome.

The average house price in Chichester was £445,000 in November 2024 and the average price paid by first time buyers in the city was £341,000.

To put this into perspective, the average house price in the South East in November 2024 was £378,000 indicating a significant increase in price in Chichester.

The Nationwide report also outlined that Kensington and Chelsea were at the top of the chart for being the least affordable area in the UK with first time buyers needing 13.5 times more than their salary.

Further research by The Telegraph noted Chichester and Bognor Regis (as a combined area) as being the least affordable place in Sussex to live and work, when factoring in that 33.1% of a person’s income is spent on food, household bills and commuting costs.

For more information about house prices, click here.