Guernsey housing market remains buoyant despite Covid

Posted: 10/08/2020

The latest house price figures from the States of Guernsey show that the market has been left relatively unscathed following the recent pandemic. 

Skipton International has welcomed the report for quarter 2 of the year, which shows a continued rise in the value of property on the island, with demand to buy still high.
 
The average home now costs islanders £459,837, rising 3.5% from the first quarter of the year. At a 7.5% increase from last year, this is the highest change the market has experienced since 2011.
 
Market transactions were down for the period, at a total of 141 compared with 108 for the first quarter of the year, as property conveyances were affected by coronavirus lockdown measures. 

However, there were 78 transactions in June as the backlog of purchases started to complete, and the market returned to normality.
 
The difference between advertised and sale prices has continued to drop over the past two years, said Skipton International. This suggests property is now being marketed at realistic prices or that properties are spending less time on the market before sale.


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