The announcement comes after a report showed that 50 per cent of all working households were unable to afford to buy a house last year.
In order for a house purchase to be deemed affordable, mortgage payments must not take up more than 40 per cent of a household’s net income.
The report, Housing Affordability in Jersey, compiled by the States Statistics Unit, looked at the price of houses sold and showed the average price of a one-bedroom flat was around three times the mean gross household income – which was measured at £52,000 last year.
Housing Minister Anne Pryke said a loan-scheme would be introduced in the new year to encourage Islanders onto the property ladder.
JEP Extra is more than just your daily newspaper. It’s multimedia package which delivers the paper to your door, your mobile and your tablet or PC daily
