20% Increase in House Prices
Wednesday, 13 February 2008
House prices in Jersey are increasing at an annual rate of 20%
The Jersey House Price Index for Quarter 4 2007 was published today (13 February) by The States of Jersey. The Headlines are:
- In the fourth quarter of 2007, the average price of dwellings sold in Jersey was increasing at an annual rate of 20%;
- house prices in particular were seeing a greater rate of increase than in previous years, with 3 bedroom houses increasing at a rate of about 21% per annum and 2 and 4 bedroom houses each at about 17%;
- the average price of 2 bedroom flats has remained essentially static over the last three years, whereas the price of 1 bedroom flats has increased recently;
- the average (mix-adjusted) price of dwellings sold in Jersey during Q4 2007 was £435,000;
- average turnover of properties in Q4 2007 was similar to the previous two quarters, though at a marginally lower level than in 2006;
- the Jersey Private Sector Rental Index indicates that average rents in the private sector have increased at a higher rate in 2007 than in each of the previous four years.
The next Jersey House Price Index for Quarter 1 2008 will be published on 21st May.
If you would like a free verbal valuation of your property without obligation call us today on 87 97 87.
