House prices remain flat for second year in a row

The only type of property to buck the trend is four-bedroom houses, which are still getting more expensive, the latest Jersey House Price Index figures show.

The price of one- and-two-bedroom flats and two- and-three-bedroom houses has remained stable for two years. But four-bedroom-houses have seen an ongoing price increase since 2007, with prices being seven per cent higher last year compared to 2008.

The figures released today show that the average price of a house sold in Jersey was £497,000 last year – which is two per cent higher than in 2008. This is the lowest annual rate of increase for five years.