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The mix adjusted average price for a local market property in Guernsey was £453,398 in the first quarter of 2014, according to the States of Guernsey.
That equates to a rise of 1.1% on the same quarter last year, and 1.5% higher than the final quarter of 2013. However there was a dip in the number of transactions, with 131 properties sold, compared to 142 in the first quarter of last year.
Jim Coupe, Managing Director Skipton International, Guernsey’s largest new mortgage provider, said: ‘We are pleased to see another quarter of steady growth in Guernsey. The modest price rise shows the market is still moving forward with a long term modest increase. However, although you can’t take one quarter in isolation, there has been a drop in the number of transactions. At the moment there is some concern about the impact the UK’s Mortgage Market Review might have locally.
Some lenders in the Channel Islands might be impacted by these changes, and it won’t be until the next quarter figures are out before we see what effect, if any, this has had. As always we would recommend that vendors be realistic in their price expectations.’
