News

Busy quarter for Local Market sales

Tuesday, 13 November 2018

A hugely busy quarter for Local Market property sales is indicative of a market that is benefiting from sensible pricing.

251 Local Market property transactions were completed in the third quarter of 2018, 68 more than in the second quarter and 51 more than in the third quarter of 2017, according to the latest Quarterly Residential Property Prices Bulletin from the States of Guernsey.

Pricing

“The most popular price bracket was the £300,000 to £399,000 range, which witnessed 66 transactions.

Of course it should be remembered that the third quarter is a popular time to find a new home and move in as it covers the summer months, but nevertheless the total figure indicates a healthy Local Market on the island.

Livingroom has always advocated sensible pricing as the best means of selling a home and it seems that the wider market is following a similar model to the benefit of everyone in the market – buyers, sellers and agents.

Average Price Increase

The average purchase price climbed by 2.2% from the second quarter of 2018 to £419,763 but that still represents a 0.8% drop annually.

As we move towards the end of the year the market will probably slow down a little in terms of the number of transactions but that doesn’t mean there aren’t deals to be done and there aren’t some fantastic properties coming onto the market.

Interested in learning more? Livingroom are specialists in

  • Local Market
  • Open Market
  • Rentals
Keep Reading