23 May 2013
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 report for the first quarter (Q1) 2013 shows that:
- the mix-adjusted average price of dwellings sold in Jersey in Q1 2013 was similar to the calendar year averages recorded in 2011 and 2012 and was 3% higher than in the previous quarter (Q4 2012)
- the latest small quarterly rise in the index was attributable to increases in the average (mean) prices of 1- and 2-bedroom flats and 2- and 4-bedroom houses
- the average (mean) price of 3-bedroom houses in Q1 2013 was the lowest recorded since 2007
- turnover of properties was about a third lower than in the previous quarter and more than two-fifths lower than in the same quarter of 2012
- the reduction in turnover was largely driven by fewer share transfer properties being sold. In Q1 2013 share transfers accounted for three-fifths of all eligible flat sales. In 2011 and 2012 this proportion had been closer to three-quarters of such sales
- the number of 3-bedroom houses which sold in the latest quarter was the lowest for more than four years
Download House Price Index report for first quarter 2013 (size 530kb)
gov.je