In September the Assembly heavily backed Deputy Mike Higgins’s proposition calling for such a register to be introduced by the end of this year.
The list would reveal details of the beneficial owners of properties, meaning the true owners of property-holding ‘share transfer’ companies would not be hidden.
Supporters of the move say the register would finally reveal the extent of foreign investment in property, which they have long claimed is pricing locals out of the market, and hope the data would be used to form government policy on the issue.
In a written States question, Senator Sam Mézec asked for an update from Chief Minister John Le Fondré on how the register was being developed.
In response, the Senator said that work had not progressed as planned but Housing Minister Russell Labey wished to make it a priority.
‘Regrettably progress on this project has not moved forward in the way that had previously been anticipated,’ the Chief Minister said.
‘Work has not commenced on the development of the register due to competing priorities in Infrastructure, Housing and Environment, including the response to Covid-19, new office, Fort Regent, Inspiring Active Places and the Our Hospital Project. I can confirm that the political lead will be the Housing Minister. The minister has asked that this is prioritised, as a clear decision of the Assembly, and instructed that an update be provided to the Assembly as soon as possible.
‘A housing political oversight group is in the process of being formed with the full membership shortly to be finalised.’
The response adds: ‘It has been clear that further resources are required to assist in delivery and implementation of policy and overall strategic co-ordination of housing matters, and recruitment to assist in these areas is also due to be restarted in the near future. The Assembly will be updated as to the progress of the housing political oversight group in due course.’
Earlier this month Senator Mézec also criticised the Chief Minister for the delay in the Housing Policy Development Board publishing its report on Jersey’s property market. The document, which was released last week, said that the Island’s market was ‘not fit-for-purpose’.
