Price of homes
Wednesday, 12 November 2008
the average price of dwellings sold in Jersey during Q3 2008 was £508,000
The States of Jersey have published the Jersey House Price Index for the third quarter of 2008:
"Headlines
• In the third quarter of 2008, the average price of dwellings sold in Jersey was about a fifth (21%) higher than the average in Q3 2007. This overall annual change was less than that reported for the previous two quarters;
• on a quarterly basis, the average price of dwellings rose by 6% between Q2 and Q3 2008;
• the price of 1 and 2 bedroom flats and 4 bedroom houses remained essentially stable on a quarterly basis whilst 2 and 3 bedroom houses increased slightly over the quarter;
• the average (mix-adjusted) price of dwellings sold in Jersey during Q3 2008 was £508,000;
• the average turnover of properties (seasonally adjusted) in Q3 2008 was about a third lower than the average quarterly turnover seen since 2002."
Overall average home prices have continued to increase, although this is made up of the 2 and 3 bed houses with apartments and 4 bed house prices remaining stable. The statistics on apartments does not take into account share transfer properties which make up three-fifths of the market. Turnover of properties though is declining.
