Pictured: From 2002, three bedroom houses have gone up in price from under £400,000 to over £700,000.
The report said that the average cost of three-bedroom houses – once considered an average family home – had jumped to £709,000 in the latest quarter, which was £22,000 higher than the previous quarter in Q4 2020. It was the “highest mean price for this property type recorded to date.”
Two-bedroom flats also hit their highest price to date, reaching £459,000 on average, £19,000 more than the previous quarter.
However, the average prices of other types of properties went down in comparison to the previous quarter:
- One-bedroom flats stood at £294,000, £6,000 lower
- Two-bedroom houses stood at £532,000, £40,000 lower
- Four-bedroom houses stood at £1,134,000, £30,000 lower
Jersey’s overall average price of properties remained considerably more than nearby jurisdictions.
Using Guernsey’s methodology to compare, the overall average for Jersey properties was £118,000 more than local market price properties solid in Guernsey, with Jersey sat at £628,000 and Guernsey £510,000.
House prices in Jersey also outstripped London and were more than twice that of the UK and England, with England’s average figure for the first quarter sitting at £253,000, compared to Jersey’s equivalent of £574,000.
Pictured: On a rolling four-quarter basis, the total activity of the Jersey housing market during the year ending Q1 2021 was 4% higher compared with the year ending Q4 2020.
The index recorded a total of 322 sales in the first part of this year – 135 fewer than the previous quarter.
However, compared to the corresponding quarter from 2020, it was still an increase of 8%.