JERSEY’S house prices will continue to rise in the long term because of supply and demand, despite the UK market slowing down.
Estate agents and financial houses believe that the credit crunch will not affect the Island in the same way it has in the UK because Jersey has a different economy, full employment, and is a nice place where people want to live.
Roger Trower of Broadlands, speaking in response to the release of the latest house price index figures compiled by the States Statistics Unit, believes that prices will continue to rise.
‘Jersey is a low tax area, a good place to live and bring up children,’ he said. ‘It has all those positives. I think the market will stabilise but it won’t go down. There is still a lack of supply into the market which will continue to ensure that prices will rise.’
