House Price report for Q4 2017

22 February 2018

The House Price Index report for the fourth quarter of 2017 has been published by the Statistics Unit.

In 2017:

the Jersey House Price Index was 3% higher than in 2016
all property types saw average prices increase in 2017
2-bedroom flats together with 3- and 4-bedroom houses all recorded their highest ever annual averages
turnover of properties was 7% higher than in the previous year; this increase in turnover was driven by increased sales of flats, where turnover increased by 26%; in contrast the number of house sales declined by 6% in 2017 compared to 2016.

In the fourth quarter of 2017:

on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2017 was 1% higher than the previous quarter (ending Q3 2017)
on a quarterly basis:

the seasonally adjusted mix-adjusted average price in Q4 2017 was 3% higher compared with the previous quarter and 4% higher than the corresponding quarter in 2016
all property types recorded higher mean prices than in the previous quarter

the turnover of properties in Q4 2017 was higher than the previous quarter, but lower than the corresponding quarter in 2016
overall housing market activity, on a rolling four-quarter basis, was essentially unchanged when compared with the previous quarter (Q3 2017) and 10% higher than the corresponding quarter of 2016
on a rolling four-quarter basis, rental prices in Jersey were essentially unchanged during the year ending Q4 2017 compared with the previous quarter (ending Q3 2017)