Chichester named least affordable city in the South East in new survey

Data collection pros at Smart Survey identified Chichester residents as having the least disposable income after paying their basic bills and mortgage rates, before naming Southampton the most affordable city in the region.

In Chichester, they found that the median house price is £475,000 and monthly earnings are, on average, about £2,139. That means, after paying for their mortgage and covering their basic bills, Chichester residents usually have about £974 left over for other expenses by the end of the month. Compare that to Southampton, which has the most affordable homes and the second cheapest bills in the area, giving residents £2,354.29 left over at the end of the month to cover other costs.

Looking at the picture across the UK, the survey found that cathedral cities like Chichester tend to be more expensive than other communities in the UK, with five such cities topping the national list: Bath, Chichester, Truro, Canterbury and Winchester.

Mo Naser, SmartSurvey CEO explained: “If you really have your heart set on living in a quaint cathedral city, you would most likely need to earn your paychecques elsewhere and commute for a quarter of a century to pay off your mortgage. Otherwise, you are looking at 25 years with hardly any disposable income left.”

Across the South East, Oxford had the highest median earnings in the region, at £2,551 a month and Winchester had the most expensive homes, at an average of £500,000.