Record Prices To Get On The Property Ladder

Thursday, 14 November 2019 12:18

It is more expensive than ever to get onto Jersey's property ladder.

The average price paid for a one bedroom flat has reached a record high of £263,000.

Latest house price figures from Statistics Jersey show the average sale price of one bedroom flats increased by £17,000 in the three months to the end of September.

There was also a £29,000 jump in the average for two bedroom flats, and a 17% (£76,000) rise for two bed houses - driven by a rise in sales of property in the near £700,000 bracket.

Overall, house prices rose 8% on a year ago, although the mean price of 3 and 4 bedroom houses dropped following big hikes in the spring.

The average paid for a property here is now £521,000 - more than £40,000 more than in London and almost a £100,000 more than in Guernsey.

Mean prices by size in Q3 2019 compared with the previous quarter:

1 bedroom flat - £263,000, up £17,000

2 bedroom flat - £413,000, up £29,000

2 bedroom house - £535,000, up £76,000

3 bedroom house - £633,000, down £31,000

4 bedroom house - £907,000, down £72,000