THE number of homes sold in Jersey has dropped to its lowest level in six years.
In the Jersey House Price Index there was an average of 26 homes sold per court sitting between July and September this year — the lowest number since the last global recession in 2002. That number was also a third lower than the long-term average of homes being sold: 39 per court sitting.
The fall was mainly due to fewer two- and three-bedroom homes being sold in the third quarter this year compared with previous quarters. Yesterday’s release of the latest House Price Index also showed a 21 per cent increase in house prices compared to the same time last year.
This is remarkably better than the UK market, which announced a three per cent drop for the same period.
The average (mix-adjusted) price of homes sold in Jersey has been steadily rising ever since 2004, and this quarter broke the half-million barrier at £508,000. Today’s figures show the following average prices for July to September compared to the 2007 averages:
• One-bedroom flats: £229,000 (up from £182,000).
• Two-bedroom flats: £322,000 (rising from £259,000).
• Two-bedroom houses: £447,000 (up from £366,000).
• Three-bedroom houses: £541,000 (increasing from £449,000).
• Four-bedroom houses: £706,000 (up from £596,000).
