22 March 2012
The Jersey housing affordability report covers the period between 2002 and 2011 and presents various indicators which are used to measure housing affordability in Jersey.
The Jersey Housing Affordability Index (JHAI) is the headline indicator of whether a working household with average (mean) income is able to purchase a median priced property affordably.
The latest report shows that in the period between 2002 and 2011 a working household earning the average (mean) income was:
- not able to service a mortgage on the purchase price of a median priced house of any size affordably
- was able to service a mortgage on a median priced one-bedroom flat affordably
- was able to service a mortgage on a median priced two-bedroom flat affordably for some of the time (not between 2006 and 2008)
Download Jersey housing affordability report 2002-2011 (size 210kb)
The Jersey housing affordability report also covers:
- ratio analysis - the ratio of property prices compared to household income
- access analysis - the ability of first time buyers and individual key workers (such as nurses, police officers and teachers) to get onto the property ladder
The Statistics Unit will be publishing the Jersey housing affordability report on an annual basis.