The latest States figures show local market rents went up by an average of just under 2% over the past three months.
Property prices and rents in Guernsey are high and are an example of excess demand for a home chasing a limited supply.
Average local marker property prices, which are determined by the sale price, went down fractionally over the summer quarter to £592,500.
This is below the post-Covid peak and the property boom sparked by the pandemic.
However, it's becoming more of a buyer's market, with achieved sale prices around 7% lower than the original advertised house price.
Sales are increasing, with more than 200 transactions in the summer quarter - which is up significantly on one year ago, but is still below the 2020 peak.
Rents in Guernsey, when looked at over a five year period, have risen by more than 53% with the average now over £2,000 per month.
More new builds are now selling on the Open Market, where the average sale price between June and September was £1.85M.
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