Family home prices soar
THE huge demand for family homes in Jersey has been laid bare in a report which shows that the average price of three- and four-bedroom houses has soared to their highest ever level.
Between the first and second quarter of this year the mean price of a three-bed house jumped by £59,000 to £664,000.
And the mean price of a four-bedroom house rose during the same period by £55,000, to stand at £979,000. But all other property types – including flats and two-bedroom houses – dropped in value.
Former St Peter Constable John Refault, who spearheaded an unsuccessful campaign to build 65 family homes on an agricultural field in St Peter’s Village, said that the report reinforces the need to start considering building in green zones to increase the supply of affordable housing.
‘There is a need to continue to look at vibrant village centres and to look at building in fields around that,’ he said.
‘I often say to people, if we do not build in fields, where do we build?
‘All parishes have a part to play and we all need to come to terms with this to provide homes for families.’
The figures, released by Statistics Jersey, also show a major rise in property transactions during recent months, with more properties being sold during the second quarter of this year than any other quarter since at least 2010.
The average price of a property in Jersey during the second quarter of this year was £512,000 – more than double the UK average of £229,000 and higher than London (£467,000).
Rent prices, meanwhile, were two per cent higher than the first three months of this year and seven per cent higher than the corresponding quarter of last year.