Guernsey housing market confidence grows

Posted: 12/08/2019

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.”


Add a Comment

  • *
  • *
  • *
  • *
  • Submit

Want to know when we publish new content?

All you need to do is sign up for our newsletter.You'll receive a daily summary email of new items which have been published.

Please be advised that the volume of Business News articles which we publish is fairly high and you should expect to receive an email most days.

You can update your preferences at any time by registering for a blglobal.co.uk account and visiting the 'Your Profile' page.



Subscribe

It's easy to stay current with blglobal.co.uk.

Just sign up for our email updates!

Yes please! No thanks!