How is the Jersey House Price Index calculated?
The average cost of dwellings in Jersey is measured quarterly by the Jersey House Price Index. This index measures the combined weighted average price of one and two-bedroom flats and two, three and four-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 Taxes Office 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
- on a calendar year basis:
- the Jersey House Price Index was 4% higher than in 2014, representing the second consecutive annual increase in property prices
- houses of all sizes saw average prices increase in 2015, with 2-, 3- and 4-bedroom houses all recording their highest ever annual averages, while flat prices were essentially unchanged from that seen over the last few years
- the turnover of properties in 2015 was 7% higher than in the previous year
In the fourth quarter of 2015:
- on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2015 was essentially unchanged compared with the previous quarter (ending Q3 2015)
- on a quarterly basis:
- the seasonally adjusted mix-adjusted average price in Q4 2015 was essentially unchanged compared with the previous quarter and 2% higher than the corresponding quarter in 2014
- 1-bedroom flats recorded a higher mean price than in the previous quarter
- 2-bedroom flats recorded a mean price that was essentially unchanged compared with the previous quarter
- 2-bedroom houses recorded lower mean prices than in the previous quarter
- 3- and 4- bedroom houses both recorded increases in mean prices, and, in both cases, this most recent figure represents the highest mean price for these classes of property recorded to date
- the turnover of properties in Q4 2015 was the highest recorded quarterly figure since 2008
- overall housing market activity, on a rolling four-quarter basis, was 5% higher than in the previous quarter (Q3 2015) and 11% higher than the corresponding quarter of 2014
House Price Index report for Q4 2015
Download Jersey house price index numbers (size 39kb)
Download average prices by type of dwelling (size 18kb)
Private Sector Rental Index
The Jersey Private Sector Rental Index was published from 2007 until 2012 using rental consent data from the States of Jersey Population Office. The index was derived from the mean rent of properties for which rental consents were granted by the Population Office during each quarter, not from all private sector rents in the Island.
The Private Sector Rental Index has not been produced since December 2012 due to the rental data no longer being collected. Alternative data sources and methodologies are currently being investigated.
Download Jersey private sector rental index 2007 to 2012 (size 24kb)
When is the next report due for release?
The Jersey House Price Index for quarter 1 2016 will be released on 19 May 2016.
You can search by year for previous House Price Index reports on the Statistics Unit reports and documents page.