3rd Quarter House Prices

New official stats show that most Jersey properties have seen their prices increase in the last quarter - but the number of proerties actually sold was 13% lower

Four-bedroom houses saw the largest increase with a mean price of £840,000 - £36,000 more than in the last quarter. Overall, the average price of properties was 1% higher than it was in the previous quarter (April to June) and 2% higher than during the same period last year.

One-bedroom flats and two-bedroom houses were cheaper than in the previous quarter, with a decrease of £7,000 and £4,000 respectively. Other property types increased in value: two-bedroom flats went up by £10,000 and three-bedroom houses by £11,000.

All properties were also more expensive than they were on average in 2016 with the biggest discrepancy observed with three-bedroom houses, which are £26,000 more expensive. Other properties increaaed between £5,000 and £16,000.

These figures show that property prices are significantly higher than in Guernsey with an extra £61,000 on the adjusted average price. This is also more expensive than most places in the UK. While the average price in Jersey, £464,000, is still below London's, £486,000, it outweighs prices in the rest of the UK.

As for rental prices, figures show that they were essentially unchanged between October 2016 to September 2017, when compared to July 2016 to June 2017.

The Statistics also show 365 properties were sold in the third quarter of 2017. This is 13% less than in the previous quarter which had seen 44 properties change hands and 4% less than during the same period in 2016. 60% of all flat sales concerned share-transfer transactions, a higher proportion than the one recorded during the calendar year 2016.