The latest House Price Index for Q1 2017 shows house prices in Guernsey have risen by 4.4 per cent on the previous quarter and are 2.4 per cent up on the same period last year.
There were 163 local market transactions during the first quarter – up 34 (26 per cent) on the first quarter of 2016.
The mix adjusted average purchase price for local market properties was £432,341, with the annual rise reflecting the Retail Price Index.
Jim Coupe, Managing Director of Skipton International, said: “The volume of transactions and modest increase in house prices indicate a positive start to the year for the housing market in the island."
But he added: “Although the latest figures show signs of growth, it’s important not to take any quarter in isolation, as the housing market in Guernsey is far from returning to the heights of a few years ago.”
House prices in Guernsey reached £468,878 in Q2 2014.