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Jersey house prices far exceed average wage

19/11/14

Recently released figures suggest that the average cost of a house in Jersey is almost 12 times that of the island’s typical salary.

Whilst the average working islander earns £34,840 per annum, well up on the UK average, it has been revealed that the typical house price on the island is a whopping £413,000, putting Jersey on an even-keel with London boroughs including Harrow and Hackney.  

Detailed statistics for the period between July and September 2014 show that three-bedroom houses on the island sold at an average market price of £512,000, two-bedroom houses for £327,000 and one-beds for £205,000.

However the figures do reveal a slight dip in housing prices for the third quarter of 2014 in comparison to the same period last year. This owes to a reduction in the average cost of buying a flat on the island, although the cost of the average house in Jersey has risen slightly.

To buy or sell property in Jersey contact Le Gallais Estate Agents on 01534 766689

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