News

Supply and demand drive higher prices

Monday, 26 November 2018

Jersey House Price Index shows that the shortage of stock on the island continues to drive prices upwards.

The latest Jersey House Price Index, covering the third quarter of 2018, has been released by the States of Jersey and paints a picture of supply and demand continuing to shape the housing market.

On a rolling four-quarter basis, the mix-adjusted average price of dwellings sold during the year ending Q3 2018 was 2% higher when compared with the year ending Q2 2018.

Prices continue to rise in the island and this is down to the simple economic forces of supply and demand. There is a real shortage of stock on the island and this drives prices upwards as people have to pay a premium for the property they want.

At Livingroom we have found that there is a lack of stock in the £500,000 to £1,000,000 bracket especially and this is where many islanders are targeting their searches. Therefore good stock that appears in this area is snapped up very quickly.

Livingroom

“We have found that there is a lack of stock in the £500,000 to £1,000,000 bracket especially.”

Of course, it doesn’t matter what price you’re selling at when you sell with Livingroom as our promise to you is the same: we will market your property with professional-standard imagery to as wide an audience as possible.

Another factor affecting property prices on the island is that Jersey is a place that people want to live. People move to the island and are willing to pay for the privilege of living in a place that is vibrant but safe, big but welcoming and well-served with amenities but retains a small-community feel.

We’ve already got an enviable stock of properties here at Livingroom but we’re always looking to increase that and have prospective buyers ready and waiting.

If you’d like to learn more about listing with us, please get in touch with our experienced team on:

  • +44 1534 717100
  • info@livingroom.je
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