Chichester ranked fifth hardest area to buy a home

The study by Adams Selfstore indicates that homes within the East and South East region of the UK are the most difficult areas to purchase a home in, due to the cost a deposit, in addition to the years needed to save and monthly savings you need to maintain, the company said.

At the start of February, asking prices for homes increased by a record 2.3 per cent, and was considered the biggest monthly increase in the 20 years it has kept records on the property ladder. This new record dictates that the average asking prices have now risen by around £40k in the two years since the pandemic started.

In Chichester an average 10 per cent deposit is said to be £41,470 and the study goes on to say the average person in Chichester would have to save £195 a month for 23.2 years in order to afford a home.

A spokesman for Adams Selfstore said: “The rising house prices across Britain have made waves of concern for those who want to purchase a home instead of renting.

"One important aspect that so many people are failing to consider is the additional costs of moving and storage. As housing prices increase, so do the prices for moving and storage, and the added cost only extends the value of proper planning and investment in careful organisation.

"For those looking to move homes, we strongly advise looking into each individual aspect of transition that will cost you money - which will allow you to plan accordingly when moving homes.

"This means, look at how much the house will be, how much the deposit will be, how far away the house is and how much gas your car will need, or how much a moving service will cost, how much new furniture will cost you, and how much the initial month of bills will cost you.

"We believe house prices will only increase from here on out, and the best way to tackle the high expenses of moving homes is to plan properly and carefully around it. By doing this, you can lessen the difficulty of finding and purchasing homes in any area in the UK. Better planning means less stress.”