House prices outstripping earnings by 16 per cent

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THE difficulties faced by Islanders in getting on the property ladder are revealed today with new figures showing that the gap between average property prices and earnings has widened significantly in the last decade.

Since 2005, the average cost of a home in the Island has increased by 44 per cent while average wages during the same period rose by 28 per cent.

Prices increased most sharply before the global financial crisis in 2008 and have remained high since.

Meanwhile, the property market – which was stagnant during the years of recession – experienced a boom in the second half of 2016, when there was the highest number of sales over a six-month period since 2006.

 

 

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Comments for: "House prices outstripping earnings by 16 per cent"

tony.t.1.

well thats it..no hope for young jersey born families.!

OneRuleForOneAnotherForAllOthers

No mention that it is only the under 750k properties or less that are selling. Anything over that is not selling, with properties remaining on the market for sometimes years. Over the 1.5mil or more mark, your house will be on the market for 3-5 years like all the rest that still are from first advertised in 2013/14 or before. There are many. Over 2.5mil mark, good luck with that as unless you are very very lucky, you're looking at 5 years or more, if you even get a buyer at all. All these articles are selective sentence articles for journalism with picked out segments to portray a false representation of progression and performance. The property market is not and has not picked up in reality. Just read the Confidential property pages.

AJ

Quite honestly I think it's estate agents talk!

I know plenty of property where there have been viewings ,the prices reduced and still no bites,as some have told me estate agents overprice !

Shadow

estate agents over price....never....or they suggest an last minute increase to the seller at the last point before walking into the Royal Court. They just bring figures out of the a$$es. I rent, but am being asked to leave as the landlord wants to sell (found a nice house for roughly same price). What they are asking.....you dreaming!!!!!! people simply get complete mesmerised by the agents talk......and take it as gospel. It's a false market of pricing. They'd charge you about £10 for a cuppa if they ran a cafe + commission to bring it to your table

del

Broadlands for me Don top man gave him what i would like and he found it, they are not

all bad, like lawyers and car salesmen you need to shop round .