The States of Guernsey has released its latest property bulletin, covering the third quarter of 2021, and the market is still experiencing high levels of activity.
The figures are in keeping with what we’ve been experiencing since the end of the first lockdown last year; 285 Local Market transactions were completed in the three months, 12 fewer than in Q2 and eight more than in Q3 of 2020. July was the busiest month, and indeed the busiest of the year so far, with 113 transactions being completed.
Once again, it is the average price of a Local Market property that will dominate the headlines. The mix adjusted average price over the quarter was £554,290 – 9.6% higher than in Q2, and 19% higher than in Q3 of 2020.
We’ve written before about how property price rises are not just a Guernsey phenomenon, but the numbers are certainly eye-catching. We’re continuing to advise clients to price sensibly as a busy market is not an excuse to price your property unrealistically; our experts will always advise you on the price point that will help your property to sell.
Unusually, the most popular type of property sold in the quarter was three-bedroom bungalows, with these representing 18% of total transactions.
At the premium end of the market, there were 22 Local Market transactions of £1 million or more, showing that more properties have been pushed into this bracket, but also that the appetite for moving extends across the spectrum of Guernsey’s population.
The Open Market also enjoyed a busy quarter of activity, with 36 transactions completed during the period – bringing the 2021 total to 89 completed deals. There were 92 Open Market sales in the whole of 2020, so this year looks set to beat that.
Our team has worked with buyers both locally and from overseas to find them their perfect Open Market home, and we’re regularly having conversations about what a fantastic place Guernsey is to live – credentials that have been strengthened during the pandemic.
Islanders have certainly been on the move throughout 2021, and we’re expecting Q4 to be just as busy.
If you’re looking to buy or sell a property in Guernsey get in touch with Livingroom Property today. Our team has more than 200 years’ experience in the property sector and are perfectly placed to meet your needs.