MORE houses were sold between July and September than in any quarter since 2023, new figures have shown – with more property transactions completed in the first nine months of this year than the entirety of 2024.
This newfound flurry of activity in the housing market comes as prices have started to rise after several years of falling.
The House Price Index Report, which Statistics Jersey release every quarter, charts how much people are buying and selling homes for, and how these figures evolve over time.
The latest figures show that there have been 732 sales since the start of the year – a number that already beats the total number of sales for 2024.
A total of 287 properties were sold during the last quarter, from July to September – the most transactions in a single quarter since 2023.
The Housing Market Activity Index, which is used to count the number of properties sold, went up by 13% since the last quarter, and was 58% higher than the same period in 2024.
Meanwhile, the figures showed that there are now 32 fewer rental properties on the market since 1 October 2024. The Rented Dwelling Licensing Scheme was introduced in 2024, which required landlords to hold a licence for each home they rent out in Jersey.
The report from Statistics Jersey found that the average overall price “was essentially unchanged when compared with the previous quarter” but prices for some larger property sizes went up by tens of thousands of pounds.
Since the early 2000s, prices were consistently rising peaking in the third quarter of 2022, when a three-bedroom house – typically considered the traditional family home – cost an average of £904,000. The mean price of three-bedroom houses was £763,000, according to the latest figures.
The price of two-bedroom houses between July and September was £565,000 – £21,000 more than in the previous quarter.
The mean price for one-bedroom flats was £325,000 during the third quarter of this year, while it was £523,000 for two-bedroom flats – a £9,000 increase since the last quarter.
