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House prices remain stable

17 February 2011

The House Price Index report for quarter 4 2010 has been released by the Statistics Unit.

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 Jersey House Price Index has been essentially flat over the 3-year period 2008 to 2010
  • the mix-adjusted average price of dwellings sold in 2010 was 2% below that of 2009
  • the latter year had recorded an increase of 2% on 2008
  • the average price of flats which sold in 2010 was 6% lower than in 2009
  • houses saw smaller price changes, average prices of 3 and 4-bedroom houses sold in 2010 were 2% and 1% lower, respectively, than in 2009; in contrast, 2-bedroom houses recorded a small increase of 2%
  • on a shorter time frame the average price of dwellings sold in the latter 6 months of 2010 returned to a similar level to that of 2009, having fallen by about 5% in the first 6 months of the year
  • the number of properties sold in 2010 was similar to 2009 and 2008, but remained about a quarter below the longer term average seen prior to mid-2008

House Price Index report for quarter 4 2010 (government and administration section)
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