HOUSE prices have seen their biggest drop in over 20 years, according to new figures.
The latest House Price Index report issued by Statistics Jersey shows a 12% fall in average prices over the previous 12 months, which is the steepest year-on-year decline recorded since at least 2002.
The report also shows a continuing slowdown in the market, with a 33% drop in overall market activity compared to the same period in 2023.
Just 114 property transactions were recorded during the first quarter of the year, the lowest turnover figure for more than two decades.
