How is the Jersey House Price Index calculated?
The average cost of dwellings in Jersey is measured 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
The latest House Price Index has been released by the States Statistics Unit:
- on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q2 2015 was 1% lower than in the previous quarter (ending Q1 2015) and 4% higher than the corresponding quarter in 2014 (ending Q2 2014)
- on a quarterly basis:
- the seasonally adjusted mix-adjusted average price in Q2 2015 was 3% lower than in the previous quarter (Q1 2015)
- 1-bedroom flats recorded higher mean prices than in the previous quarter
- 2- and 3-bedroom houses and 2-bedroom flats, all recorded lower mean prices
- 4-bedroom houses recorded largely unchanged mean prices
- the turnover of properties in Q2 2015 was higher than in the previous quarter (Q1 2015) and was the highest quarterly figure recorded since 2008
- overall housing market activity, on a rolling four-quarter basis, was 2% higher than in the
previous quarter (Q1 2015) and 7% higher than the corresponding quarter of 2014 (Q2 2014)
- share transfer transactions accounted for almost two-thirds (64%) of all eligible flat sales in
Q2 2015, an increased proportion to that recorded in calendar year 2014
House Price Index report for quarter 2 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 3 2015 will be released on 19 November 2015.