Record year for Open Market

Monday 17 January 2022

Guernsey’s Open Market recorded a record year in transactions last year, with 30 more than 2020.

2021’s 127 sales also topped the previous record of 101 in 2006.

"Last year was an extraordinary year for the Guernsey property market, particularly the Open Market which saw a 30% rise in transactions compared to 2020 and continues to demonstrate Guernsey's attractiveness as a destination for new residents,” said Head of Carey Olsen’s property group, Jason Morgan.

"We, of course, had a brief lockdown in the early part of last year but this had only a very limited impact on the appetite we have seen across both the Open and Local Markets, with average sales prices increasing further once again as a result of that demand.”

The median price of an Open Market sale last year was £1,469,813. This is an increase of more than £70k from 2020.

“What the figures have also demonstrated is that Local Market activity slowed ever so slightly in the latter part of last year as a consequence of the rapid turnover of properties seen since the middle of 2020 following the first lifting of coronavirus restrictions,” continued Mr Morgan.

“What now may be the case is that fewer people are looking to move home, having only recently purchased, which in turn, may have impacted the number of available properties. This may be an interesting trend to keep an eye on as 2022 progresses."

Pictured top: Mr Morgan.