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Jersey homes continue to outstrip London prices

Jersey homes continue to outstrip London prices

Thursday 14 November 2019

Jersey homes continue to outstrip London prices


The average price of a property in Jersey has gone up again, to £521,000, a rise of 8% on the same period last year.

That puts Jersey well above London where the average price, calculated on the same basis, is £477,000 - it's also well above the price in Guernsey.

The last quarter's statistics were released this morning by the Statistics Unit, and they show that in the third quarter of 2019:

  • on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q3 2019 was 2% higher when compared with the previous quarter (year ending Q2 2019);
  • on a quarterly basis:
    • the seasonally adjusted mix-adjusted average price was 2% higher than in the previous quarter and 8% higher than in the corresponding quarter of 2018 (Q3 2018)
    • larger property types, 3- & 4-bedroom houses, saw decreases in mean price compared with the previous quarter
    • all other property types saw increases in mean price compared with the previous quarter
  • overall housing market activity, on a rolling four-quarter basis, was essentially unchanged (0.4% higher) when compared with the previous quarter (Q2 2019) and 15% higher than in the corresponding quarter of 2018;
  • on a rolling four-quarter basis, advertised private sector rental prices increased by 1% during the year ending Q3 2019 compared with the year ending Q2 2019.

House_Prices.png

Pictured: the key stats from the last quarter's survey.

However, the turnover of properties was 6% lower than in Q3 2018 and was a fifth (20%) lower than the previous quarter (Q2 2019). 

House Prices
 
You can read the full house prices report here. 

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