Guernsey Quarterly Residential Property Prices Bulletin Quarter 2 2014

MEDIA RELEASE: The views expressed in this article are those of the author and not Bailiwick Express, and the text is reproduced exactly as supplied to us

The Guernsey Residential Property Prices Bulletin measures average price changes in residential properties sold on the Island each quarter and provides a headline analysis of trends in average prices.

Data compiled on the Island’s housing stock in 2011 enabled the development of new methods for calculating average purchase prices. The mix adjusted averages are much less susceptible to changes from one quarter to the next in the profile of properties sold.

HEADLINES
• The mix adjusted average purchase price1 for Local Market properties was £468,878 in the second quarter of 2014, 3.0% higher than the same quarter of 2013 and 3.4% higher than the previous quarter.
• There were 156 Local Market transactions during the second quarter of 2014, 18.8% less than in the same quarter of 2013 when there were 192.
• The raw median price (realty only) of Local Market transactions was £418,000 in the second quarter.
• The raw median price (realty only) of the 12 Open Market transactions in the second quarter of 2014 was £1,132,875 compared with £1,496,250 in the second quarter of 2013, when there were six transactions.