Jersey housing market Q1 figures released

Posted: 18/05/2017

The Q1 2017 Jersey House Price Index from Skipton International shows that the price of houses on the island has risen three per cent on the same period last year, taking the average price of a house to £465,000.
 
Lorraine McLean, Mortgage Sales Manager at Skipton International, said: “The figures for the first quarter are typically the lowest of the year. Turnover for this period is usually down on the previous quarter, and house prices with it. So it is important not to take any quarter in isolation but to consider the bigger picture.

"Overall, the latest HPI figures show that Jersey’s housing market is continuing to progress, with house prices generally heading upwards. It is, nevertheless, a good time for buyers, as finance remains at very attractive rates.”
 
A total of 321 properties were sold in Jersey in Q1 2017, a higher number than Q1 2016 (284) and Q1 2015 (264).
 
In Guernsey, meanwhile, the most recent House Price Index shows turnover up 26 per cent compared with Q1 2016, with prices up 2.4 per cent on the same period – the first quarter of annual positive growth in two years.
 
The price of property in Jersey is still more than double the average UK house price of £216,000, but is still below the average London house price of £476,000 (figures from National Statistics).


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