Strong & Stable - Jersey's Market Holds Firm26/05/17
Strong and stable
The latest house price index shows that Jersey's housing market is 'strong and stable'.
Whether you're an investor, a home buyer or a home owner, stability is the preferred state for Jersey's housing market. Stability encourages a sense of security among property sellers and buyers alike, and is the sign of a mature and healthy market.
Orderly and rational
The latest house price statistics show that "on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q1 2017 was 1% higher than the previous quarter". A 1% quarterly rise in the market as a whole is something that will encourage people to make their decisions on whether to buy or sell in an orderly and rational manner.
Supply and demand
Supply and demand are crucial factors in a healthy housing market. When there are great spikes or sudden falls in house prices, the volatility encourages one side of the equation to act whilst simultaneously discouraging the other, weakening the market and creating uncertainty. These latest figures show that this is not currently the case in Jersey.
Confident and optimistic
Importantly, overall market activity was 3% higher than the previous quarter (on a rolling four-quarter basis), suggesting that the political and economic dramas emanating from the UK's decision to leave the EU and subsequent general election, are not feeding into islanders' decision making.
Of course, it's not possible to predict the future. There's no way to guarantee that the island's housing market will continue it's 'strong and stable' path, but the signs are good and these first figures for 2017 suggest that islanders are still feeling optimistic about Jersey's economic future.