House sales up – as prices fall

House sales up – as prices fall

Economic Development Minister Philip Ozouf says the increasing number of sales highlighted in figures published today shows evidence of growing confidence in the Island’s economy.

The number of sales, at 334, was higher than in any other quarter since the States Statistics Unit started compiling the House Prices Index at the beginning of 2002.

However, the mix-adjusted average price of a property sold in the second quarter of the year was £334,000, down about £9,000 compared to the figure at the end of the first three months of 2006.

The figures do not include sales of share transfer properties which are believed to contribute about another 100 property transactions to the totals.

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