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House Prices Up 5%

Jersey House prices rose by 5% in 2020. Yet again, every type of property has recorded its highest ever annual average price.

One bedroom flats have hit a mean average of £300,000 for the first time - up £11,000 at the end of the year compared to the previous quarter.

Three bedroom homes changed hands for an average £687,000, broadly similar to in Q3 of 2020.

But there was a huge rise in the mean price paid for a four bedroom home - up an eye-watering t£200,000 on the previous three months to £1.164m.

The House Price Index says there were around 30 transactions of that type of property in the last quarter of the year that were in excess of £1m.

Fewer properties changed hands overall, with turnover down 10% on 2019.

Flat sales were down by 19% over the year, driven by lower demand for newly-built properties. 180 fewer sold in 2020 compared with 2019.

Overall, the average paid for property in Jersey is £567,000 compared to £497,000 in London.

Mean prices by size in Q4 2020 compared with the previous quarter:

1 bedroom flat  - £300,000, up £11,000

2 bedroom flat  - £440,000, up £18,000

2 bedroom house - £572,000, up £34,000

3 bedroom house  - £687,000, unchanged

4 bedroom house  - £1,164,000 up £200,000

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