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An extension to the Brexit deadline, plus the announcement of a third UK general election in four years, is likely to further fuel interest in the Channel Islands’ property markets, according to Founder, CEO of Livingroom Estate Agents, Simon Torode.
His comments come as the pan-Channel Island estate agent releases its first ever Channel Island Market Review, encompassing the trends in both the Jersey and Guernsey housing markets. Both of the islands’ markets have prospered in the face of an overall negative picture in the UK. Ahead of official Q3 figures from the two governments, Simon says: “Our experience is that the price recovery of the past couple of years in the Channel Islands has continued over the third quarter of 2019.”
Simon reports that UK political uncertainty has only helped to highlight the Channel Islands as hugely desirable and stable places of residence: “We have been working with potential buyers of considerable means visiting the islands as part of their ‘emergency planning’ should they be unhappy either with the outcome of Brexit or the upcoming general election. This is understandable and demonstrates that the islands are in UK citizens’ minds as they consider their futures.
“Coupled with this trend, we have witnessed high-value properties coming onto the market in both Guernsey and Jersey and, as always with Livingroom, a greater degree of this activity happens discreetly.”
However, he cautions, new arrivals in both islands continue to demand value for money in their property transactions. “Although the message is hugely positive for Channel Island residents, the market still requires vendors to remain competitive and agile. There is no room for complacency – just a little more activity to try and harness.”
