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House prices remain stable

18 November 2010

The Statistics Unit has released the House Price Index report for quarter 3 2010.

The House Price Index measures the combined weighted average price of 1 and 2-bedroom flats and 2, 3 and 4-bedroom houses. The latest report shows that:

  • the mix-adjusted average price of properties sold in Jersey in Q3 2010 (£500,000) was similar to the mean for calendar year 2009
  • the average price recorded in Q3 2010 was 5% higher than in the previous quarter
  • the latest quarterly increase in average price was particularly driven by the 4-bedroom houses which sold in the quarter
  • excluding 4-bedroom houses shows that, overall, the majority of the Jersey residential property market has been essentially stable in price from early 2008 to the present time
  • the number of properties sold in Q3 2010, on a seasonally adjusted basis, was higher than that recorded a year ago, but was almost a fifth below the longer term average seen before mid-2008

House Price Index report for Quarter 3 2010 (government and administration section)
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