Jersey Property Market Update - Q1 201619/05/16
The latest House Price Index figures reveal that the housing market in Jersey is at its busiest since 2008!
Q1 2016 has seen a 9% increase in market activity, with an 8% increase in transactions from 260 in Q1 2015 to 284 in Q1 2016.
Despite the busy market activity, three-bedroom house prices have fallen by £29,000 in the quarter to £516,000. That’s an £11,000 drop on the 2015 average.
If you are looking to get on the market, then good news, the average price of two bedroom and one-bedroom flats have also decreased. The average price of a two-bedroom flat now is £320,000, that’s a £12,000 decrease on the 2015 average. Whilst the average price of a one-bedroom flat is now £201,000, that’s a £26,000 decrease in the quarter.
The biggest price rises can be seen in four-bedroom houses, with the average price now £828,000, that’s a £57,000 increase on last quarter.
Robin Sappe, Director, Le Gallais said: “2016 is shaping up to be our busiest year since 2008. We have been lucky that we have had such a good supply of properties throughout 2016 to meet the demand, but as ever we are always looking to take on more”
How Can Le Gallais Help You?
If you are planning to move or purchase your first property make sure you check out all our latest properties on the market. And if you are already in the process of moving, give us a call at Self Storage to take some of the stress out of your move, we’re here to help.