Jersey Housing Coming Down In Price

By Editorial 24 February, 2014

Jersey house prices fell by one percent in 2013 compared to a year earlier, according to the Jersey Government's latest house price index report, released on February 20, 2014.

2013 was the fourth consecutive year that house prices have fallen marginally. Over the last five years, house prices have declined by 6 percent.

One bedroom flats were the only category of property to see values rise. Two and three bedroom house prices continued to fall in 2013 – two bedroom house prices to levels not seen since 2007. The mean price of larger houses remained stable in 2013.

On a quarterly basis, the Jersey House Price Index was 5 percent lower than in the previous quarter, and 3 percent lower than the corresponding quarter a year earlier. The turnover of properties fell by 3 percent year-on-year, despite activity recovering in the latter half of 2013. While share transfer properties accounted for half of all transactions, there was reduced demand for these properties compared to 2011 and 2012 levels.

Tags: Investment | Real-estate Investment | Real-estate | Jersey | Offshore | Expats |


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