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House prices

The mix-adjusted average price of dwellings sold in Jersey in calendar year 2011 was 1% lower than in 2010.

The average cost of dwellings in Jersey is measured by the Jersey House Price Index. This index measures the combined weighted average price of 1 and 2-bedroom flats and 2, 3 and 4-bedroom houses.

The principal data sources on the transaction prices of property sales used in the Jersey House Price Index are:

the Jersey Property Bulletin for freehold and flying freehold properties
the States of Jersey Income Tax Department for share transfer transactions

The above data are supplemented by information on the type and size of each property provided by the States of Jersey Population Office.

Latest report and data

The report for quarter 4 2011 shows that:

the mix-adjusted average price of dwellings sold in Jersey in calendar year 2011 was 1% lower than in 2010; this small decrease was driven by lower property prices recorded in the latter part of 2011
on a quarterly basis, in Q4 2011 the Jersey House Price Index was 2% lower than in the previous quarter, Q3 2011; 7% lower than in the corresponding quarter of the previous year, Q4 2010; at the lowest recorded level for 4 years, since Q4 2007
the mean prices of 1-bedroom flats and of 2-bedroom houses in 2011 were the lowest recorded since 2007; in contrast, the mean price of 3-bedroom houses has been relatively stable for the last 4 years, whilst in 2011 2-bedroom flats recorded the highest mean price for this property type on an annual basis
the turnover of freehold and flying freehold properties in 2011 was 10% lower than in 2009 and 2010; in contrast, the turnover of share transfer properties in 2011 (comprising predominantly 1- and 2-bedroom flats) was almost double that of 2010
the mean prices of first-time buyer flats and houses sold in 2011 were £270,000 and £420,000, respectively

House Price Index report for quarter 4 2011

Download average house prices and index numbers (size 39kb)
Download average prices by type of dwelling (size 18kb)
Download Jersey private sector rental index numbers (size 24kb)