Average house costs £550k before fees

Monday 12 April 2021

174 local market properties were sold in the first three months of 2021, despite the island's eight-week lockdown due to Covid-19.

The latest conveyancing statistics compiled by Unusualities of Guernsey show that 140 houses and 34 flats changed hands between January and March.

The median price (realty only) for those 140 houses was £550,875, up markedly from £496,275 for the same period last year, before the first wave of the pandemic hit the island.

The median price of the 34 flats sold in the first three months of 2021 was £287,625, compared to £254,970 last year.

Pictured: Jason Morgan said that 18 Open Market houses had been sold at a median price of £1,396,500 and two Open Market flats at £2,107,892.

Jason Morgan, Head of Carey Olsen's Property Group in Guernsey, said there had been a significant bounce back in March following an unsurprisingly quiet February, in which 26 transactions took place. 

"The fall in sales activity in the first quarter of this year was to be expected as a result of the island's second lockdown," said Mr Morgan.

"But as was the case last year, there are again signs of another rapid post-lockdown recovery with the figures for March suggesting that there remains plenty of demand across both the Local and Open Markets."

Earlier this year, it was revealed that house prices rose by a whopping 11.8% in 2020, amounting to the largest annual rise in average property prices since 2008.