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Jersey house price report confirms property market bounce-back

Tuesday, 25 August 2020

Statistics Jersey has published the house price report for the second quarter of 2020 and the figures confirm that the sales market has bounced back remarkably from the lockdown period.

With the island in some form of lockdown for much of the quarter, it’s no surprise to learn that Q2 saw a 56% drop in the number of sales transactions compared to Q2 2019, and the lowest overall number of transactions in a three-month period since Q1 of 2013.

However, the buoyant activity at the end of 2019 and the start of 2020 resumed almost immediately as life got back to some form of relative normality. The average price of a Jersey house during the quarter was £532,000 – an 4% increase on Q2 of 2019. 

Clearly the market has recovered better than any industry observer would have dared to predict back in March, but we’re advising clients in the same way we always have – with honesty, transparency and their best interests at heart. 

Just because properties are moving quickly doesn’t mean buyers don’t have a sense of market value. Following our team’s expert advice and pricing realistically will still give you the best chance of selling your property; buyers remain savvy even in boom times 

To reinforce that point, the quarter did witness some average price decreases, by 1% and 2% respectively, in one-bedroom flats and three-bedroom houses; but all other categories saw increases.

Our expert Jersey team has been amazingly busy and we’re continuing to grow our Jersey office with five new hires. In a complex market, the advice of a professional agent is invaluable if you’re looking to sell your home or looking to buy. Our team has decades of experience so will bring cool heads and sensible advice to your search.

If you’re looking to buy or sell get in touch with our award-winning team today at Livingroom – the Channel Island estate agent. To be the first to hear about new listings, register online to tell us your requirements by simply clicking this link: https://www.livingroom.je/auth/register

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