Skipton has welcomed the latest Property Prices Bulletin from the States of Guernsey, which shows that the island has experienced the highest number of second quarter transactions since 2012. Average property prices have also increased by 4.2% against the same time last year.
The island is experiencing a sustained period of increase in market activity, with the second quarter of the year up by 25% against 2018. A total of 228 transactions took place last quarter, with strong growth among properties priced £300,000 to £399,000.
The average property price now stands at £427,893, just over £17,000 higher than the second quarter of 2018.
Jim Coupe, Managing Director of Skipton International, said: “While property process have risen, it is not significantly ahead of median salary growth, which means the affordability challenge is not significantly widening for aspiring property purchasers.
"This buoyant market is in part the result of more lenders adjusting their criteria and rates, developing a more competitive lending environment, so we are seeing average loan to values slowly rising.”