The mix-adjusted average price for Jersey (£521,000) was once again higher than the equivalent price in London (£477,000). It was also 2% higher than Q2 2019 and 8% higher than Q3 2018.
Q3 is traditionally the busiest quarter for completed transactions for a number of reasons, chief among them people’s desire to move over the summer months when the weather is (generally!) better and the house move is that little bit less stressful.
It’s also an issue of timing. Many house hunts begin at the start of a calendar year and finding the right property, agreeing a price and completing the survey and legal particular can all take time. Many of those completing a purchase in Q3 2019 will have begun their search in January or February.
The team here at Livingroom have had a busy third quarter as the office is now well and truly established in Jersey. Looking back on the quarter from a Livingroom perspective gives us a great deal of satisfaction as we handled some significant sales and continued to strengthen our position in the property market.
Interestingly, the index also reveals that larger property types (three and four-bedroom houses) saw decreases in mean price compared with the previous quarter. This could suggest that some vendors have adopted a more realistic pricing model as properties have continued to change hands quite rapidly.
With our team’s wealth of experience it is our belief that the Jersey property market is fast-moving and dynamic and we’re enjoying working with vendors and buyers to make a difference to the market through our exceptional client service.
If you’re looking to make a move in a busy market then get in touch with the Livingroom team on +44 1534 717100
View the latest House Price Index, released by Statistics Jersey here