GIBA welcomes housing plan as a "positive step forward"

Thursday 27 July 2023

The Guernsey International Business Association (GIBA) has welcomed the States of Guernsey’s recently announced action plan on housing, issued in the wake of the review of the island's housing market by independent experts, Arc4.

The Committee for Environment & Infrastructure's plan aims to see all people living in Guernsey able to access a range of good quality and affordable housing.

GIBA notes that the plan also aims to ensure that housing is secure, energy-efficient and adequate for their needs. 

GIBA's own recent housing survey, focused on the financial services sector, and revealed that there are currently between 500 to 600 job vacancies Guernsey’s finance sector and an associated requirement for housing and accommodation.

That survey identified finance sector demand focused on one to two bedrooms dwellings; with a third less demand for three-plus bedroom houses. Over 95% of the required units of accommodation would be rented. 

The survey further revealed a number of recurring themes such as the costs and availability of housing being significant issues when it came to recruiting and retaining staff. Several firms said this was one of the main reasons staff relocated elsewhere. 

With the finance sector employing around 20% of Guernsey’s working population and generating nearly 40% of the island’s GDP, GIBA says the ability to attract and retain staff with the right skills, is critical in the island’s competitiveness and economic health. 

GIBA says its belief is that urgent change is needed and it is pleased to see the plan sets out a clear timeline and prioritised actions, calling the plan "a positive step forward".

Pictured top: GIBA's Jo Peacegood and Paul Sykes.