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Q2 - The latest Jersey House Price Index

Friday, 16 August 2019

The latest House Price Index, released by Statistics Jersey, shows that the turnover of properties in the second quarter of 2019 was the highest since 2010.

This certainly resonates with the team here at Livingroom, who have been exceptionally busy fielding enquiries and securing sales for our vendors. Our team have, in our short time in Jersey so far, lent their expertise and experience to vendors and buyers alike to secure a positive number of transactions and establish Livingroom on the island.

Elsewhere in the report, the mix-adjusted average price was 2% higher than in Q1 of 2019 and 8% higher than Q2 2018. Indeed, prices continue to rise on a steady upward trajectory after a short dip at the beginning of 2018.

Our experience at Livingroom has been that demand is continuing to outstrip supply in the £300,000 - £1.5m bracket and this is driving prices upwards.

Certainly this is the case with three and four-bedroom homes, the mean prices of which are now £664,000 and £979,000 respectively. Both of these figures are up on the previous quarter.

In the upper market (from £1.5m) there is a notable decline in overall sales compared to 2018. This clearly shows the frenetic market activity is only apportioned to individual market sectors and the term ‘busy market’ cannot be applied across the board.  

Clearly the market is very active under £1.5m at the moment which is great news for vendors, who can be sure of a pretty quick sale. But just because the market is active doesn’t mean that properties should be priced and marketed above their true worth. Activity is only brisk when properties are priced realistically, something we always advise our vendors and which generally leads to a swift sale.

Our team has extensive experience of the Jersey property market so is well positioned to advise vendors and buyers alike on where the best value is to be found.

If you’re looking to make a move in an busy market then get in touch with the Livingroom team on +44 1534 717100

 

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