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Q4 GUERNSEY PROPERTY MARKET

Friday, 15 February 2019

The States of Guernsey’s residential property prices bulletin has been released for Q4 2018

The States of Guernsey’s residential property prices bulletin has been released for Q4 2018 and reports an increase in the average purchase price of Local Market properties.

Local Market properties had an average purchase price of £437,909 in the fourth quarter of 2018, a 4.3% jump on Q3 and an increase of 4% compared to the same quarter in 2017. This figure suggests an increased confidence in the market but even though this is good news for vendors we’d advise they continue to price realistically and not view this as a signal to rush into increasing prices. Vendors who have embraced the market dynamic have seen success.

The number of Local Market property transactions in Q4 of 2018 was up compared to the same quarter in 2017 (236 compared to 186) but there were 15 fewer than the previous quarter. The last year has demonstrated that increased confidence provokes market activity; not just because of the chains involved in buying houses but also because vendors now have a greater sense of current market value against actual proven sales. 

At Livingroom we have also seen a growth in the Open Market with new candidates coming in. There were 26 Open Market transactions in Q4 of 2018 compared with 18 in Q4 of 2017.

We’re aiming for a ‘fluid market’ and are always keen to provide a benchmark for vendors and encourage them to price sensibly to give them the best chance of selling their property; we have our clients’ interests at heart. But what else would you expect from the agency recognised by the International Property Awards as being Guernsey’s 5* estate agent?

If you’re looking to sell a home get in touch with the Livingroom team on +44 1481 715555.

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