The latest conveyancing statistics compiled by Unusualities of Guernsey show a total of 318 Local Market transactions (239 houses and 79 flats) between July and September.
This represents 21.8% more than the total recorded for the same three months in 2019 and the most for any quarter since Q4 of 2006, when a total of 326 Local Market properties were sold.
“The bounce back in Local Market activity since Guernsey’s coronavirus lockdown has been extraordinary,” said Jason Morgan, Head of Carey Olsen’s property group in Guernsey.
“There appears to be a great deal of confidence with many properties selling for, or even above, their asking price, which is usually unheard of on the residential property market.
Pictured: Jason Morgan said some properties are selling above their asking price.
“Flat sales and purchases are where we have seen the greatest activity increase, with numbers in July to September,effectively equalling the total number of flat transactions for the first six months of the year.
“This could be for many reasons, but perhaps a major one is that those selling flats have been more eager to find somewhere to move to with an outdoor space, which in turn has led to more availability for first time buyers trying to take their first step onto the property ladder.”
Unusualities of Guernsey also recorded 21 transactions in the Open Market during Q3 – the most in any quarter since the final three months of 2018 (27).
54 Open Market transactions have been completed this year, with a median price of £1,365,000 (realty only) for the 47 Open Market houses sold, compared to £877,500 for the same nine-month period in 2019.
