Statistics Jersey has published its house price report for the first quarter of 2020. The key points are as follows.
On a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q1 2020 was 1% higher compared with the previous quarter (year ending Q4 2019).
On a quarterly basis:
• The seasonally adjusted mix-adjusted average price was 1% lower than in the previous quarter and was 5% higher than in the corresponding quarter of 2019 (Q1 2019).
• The mean price of one-bedroom flats and four-bedroom houses decreased compared with the previous quarter.
• The mean price of all other property types increased compared with the previous quarter.
The turnover of properties was 11% lower than in Q1 2019. While there may have been some impact on the level of turnover in Q1 2020 due to the developing pandemic situation in Jersey, the majority of the latest quarter occurred prior to the introduction of Covid-19-related government interventions.
Overall housing market activity, on a rolling four-quarter basis, was essentially unchanged compared with the previous quarter (Q4 2019) and was 6% higher than in the corresponding quarter of 2019.
On a rolling four-quarter basis, advertised private sector rental prices increased by 1% during the year ending Q1 2020 compared with the year ending Q4 2019.
• To view the house price index report click here