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Brexit is 'good news' for CI property markets

Brexit is 'good news' for CI property markets

Wednesday 06 November 2019

Brexit is 'good news' for CI property markets

A pan-island estate agency has said the further extension to the UK's Brexit negotiations should be good news for the Channel Islands property markets.

The Founder and CEO of Livingroom Estate Agents has said trends seen in both Guernsey and Jersey suggest the stability the islands can offer is attractive to some UK residents.

Simon Torode said; “Our experience is that the price recovery of the past couple of years in the Channel Islands has continued over the third quarter of 2019.”

He also said that UK political uncertainty has only helped to highlight the Channel Islands as hugely desirable and stable places of residence: “We have been working with potential buyers of considerable means visiting the islands as part of their ‘emergency planning’ should they be unhappy either with the outcome of Brexit or the upcoming general election. This is understandable and demonstrates that the islands are in UK citizens’ minds as they consider their futures.

“Coupled with this trend, we have witnessed high-value properties coming onto the market in both Guernsey and Jersey and, as always with Livingroom, a greater degree of this activity happens discreetly.”

However, Mr Torode cautions, new arrivals in both islands continue to demand value for money in their property transactions. “Although the message is hugely positive for Channel Island residents, the market still requires vendors to remain competitive and agile. There is no room for complacency – just a little more activity to try and harness.”

Livingroom has commissioned a Channel Island Market Review which is available to read in full here.

Pictured: Simon Torode. 


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