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JERSEY Q3 PROPERTY INDEX: RECORD HIGH AVERAGE PRICE, FEWER TRANSACTIONS

Friday, 19 November 2021

The Government of Jersey has released its latest house price index, covering the third quarter of 2021, revealing an all-time high average property price of £634,000.

The average marks a significant increase on Q3 of 2020, when the figure was £533,000, demonstrating that demand remains high in the Jersey property market.

 

However, the quarter-on-quarter average price increase of £5,000 is relatively modest considering the data over the past year.

 

It’s too early to claim that the market is cooling down, but we can say with certainty that Q3 was less busy than Q2 in 2021, with the 379 completed transactions almost 100 fewer than the 472 deals completed in Q2.

 

This is likely a natural market response to the frantic nature of the last two years. Since the first lockdown ended, the market has moved at breakneck speed, with buyers having to act very quickly to secure the property they want. That increased demand naturally pushed up prices and lured sellers to list their property.

 

But after around 20 months of this, many who wanted to sell after a COVID-prompted evaluation of their home have done so already.

 

Appetite to buy remains

 

The volume of sellers may be decreasing, but the volume of buyers certainly isn’t.

 

Livingroom’s experienced team of negotiators have worked exceptionally hard to match buyers with their ideal property and give them the sound advice they need to keep a cool head in a hot market, and the team is still fielding plenty of enquiries.

 

The best way to get ahead when searching for a Jersey property is to register with us to declare your interest and tell us about your preferences. Once we know what you’re looking for, we’ll be able to use our knowledge of the market to find the properties that match your criteria.

 

An imbalance between buyers and sellers means that we’re always looking for new properties to sell, so if you’re thinking about selling now is a great time to get in touch with our team on 01534 717100.

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