Average house prices in the Chichester district reach £463,930

House prices have increased by 3.7 per cent – more than the average for the South East – in the Chichester district in December, new figures show, contributing to a longer-term trend which has seen property prices in the area achieve 15.9 per cent annual growth.

The average Chichester house price in December was £463,930, Land Registry figures show – a 3.7 per cent increase on November.

The news comes as the Telegraph reported that estate agents Savills has ranked all small cities in England, with populations of less than 300,000, placing Chichester as second on the list as being the best place to ‘downsize’. Truro in Cornwall came top of the list, it said.

It’s position on the south coast and proximity to London are among the contributing factors for its popularity.

Over the last year, the average sale price of property in the Chichester district rose by £64,000 – putting the area seventh among the South East’s 64 local authorities with price data for annual growth.

The best annual growth in the region was in the Worthing district, where property prices increased on average by 18.7 per cent, to £340,000.

Average prices according to the Land Registry:

Detached: up 4.2 per cent monthly; up 18.3 per cent annually; £749,091 average.

Semi-detached: up 3.5 per cent monthly; up 16.5 per cent annually; £441,835 average

Terraced: up 3.5 per cent monthly; up 14 per cent annually; £379,716 average

Flats: up 2.6 per cent monthly; up 10.7 per cent annually; £232,132 average

First-time buyers in Chichester spent an average of £348,000 on their property – £45,000 more than a year ago, and £79,000 more than in December 2016.