House prices in Jersey are down by 12% on a year ago. It's the steepest decline in more than 20 years.
The average paid for a property in the third quarter of 2024 was £581,000.
That's down from £651,000 12 months ago and is 3% lower than Q2.
The biggest price drop was in one bedroom flats, which were on average 9% less expensive than three months earlier.
Statistics Jersey, which compiles the figures, says they have been impacted by a significant proportion (39%) of transactions in 2023 being of newly completed builds, compared to just 5% during the same period this year.
The report indicates a slowdown in the market, with overall housing market activity down by a third compared to the year ending Q3 2023.
Mean prices by size in Q3 2024 compared with the previous quarter:
- 1 bedroom flat - £306,000, down £29,000
- 2 bedroom flat - £507,000, down £12,000
- 2 bedroom house - £618,000, up £53,000
- 3 bedroom house - £749,000, down £52,000
- 4 bedroom house - £1,127,000, up £142,000.
Hospice 10k in memory of Jayson Lee raises £8,000
DFDS 'finalising' Christmas and New Year sailings
Air and sea search launched over suspected missing kitesurfer
Bonfire sparks open land blaze at Corbiere
Weekend of firsts as local tuna hits Jersey Fish Market counter
Weekender 2026 line-up complete
Bulls ease into next FA Cup qualifying round
London man jailed for fraudulent purchases in Jersey worth over £10.5k
