13/02/2025
The latest report from the Jersey House Price Index is out today, showing what everyone suspected, another drop in house prices year on year as people rationalise the post-covid bubble and adjust accordingly to get a sale. Whilst the number of year-on-year sales shows a decrease, that was skewed by a high volume of flats transacting last year. Presenting the quarterly statistics on average prices does show them just around a bit as the low volume of transactions is easily skewed by a few outliers of higher or lower price within each bracket. Rental prices are largely flat.
With interest rates creeping down and prices beginning to be pegged to sold prices rather than heady expectations from the covid era, we're seeing a good start to the year with Places getting the highest level of enquiries we send to agents for some time. Check out the sold prices on places at https://www.places.je/sold-property and use that to base your expectations for sale price and with the assistance of some cheaper lending, we should all be able to buy or sell our properties more efficiently as we progress through 2025.
Happy hunting.