News

Q2 - Continued good news in Guernsey’s Local Market

Friday, 16 August 2019

The latest Quarterly Residential Property Prices bulletin from the States of Guernsey shows the highest number of Local Market sales in a second quarter for seven years, building on positive numbers in Q1 and at the end of 2018.

A total of 228 Local Market transactions were recorded during the quarter, after 177 transactions were completed in Q1. These figures demonstrate a healthy Local Market and, in line with these numbers, our team has been exceptionally busy.

Our Local Market team combine years of experience and knowledge of the Guernsey property market and embody the exceptional client service that we pride ourselves on. Their hard work is resulting in sales so our vendors are feeling the benefits of a buoyant market and an expert team.

Sensible pricing is continuing to keep the market moving and Q2 saw a modest increase in the mix adjusted average purchase price of Local Market properties – up 0.6% to £427,893.

Our team is constantly reiterating that a healthy market is not a reason to increase prices. Instead, it shows that pricing realistically is the best way to sell a property and has contributed to keeping the Local Market moving over the past 18 months or so.

The bulletin also reports that there were 12 Open Market transactions in the second quarter of 2019. Our Open Market team, led by director Jason Hyland, experienced a busy first half of 2019 as Guernsey’s economic and social stability has stood in stark contrast to the UK and further afield.

Guernsey has always attracted new residents based on the lifestyle it offers and that is still the principal driver of new residents to the island. However the instability in the UK is also contributing to people looking to Guernsey as a bastion of stability and certainty in these uncertain times.

Overall, the bulletin paints a picture of a healthy market where properties are moving. If you’re thinking about buying or selling get in touch with our team to benefit from their expertise, experience and focus on client service.

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