Just as the Bank of England has hiked interest rates to 4%, new data about house prices in Jersey is published.
The House Price Index is essentially unchanged on the same time last year, and fewer properties are changing hands.
270 properties were sold during July, August and September, but average prices moved little on last summer's.
They remain around 13% down on the same quarter in 2022.
First-time buyers accounted for less than 1 in 5 transactions (17%) below the 25% average.
One bedroom flat sold for an average of £309,000 pounds and two bedroom flats for a little over £500,000.
Three bedroom houses were the only property type that saw an annual increase in value, of 2%, with an average price of £776,000 paid.
Mean prices by size in Q3 2026 compared with the previous quarter:
- 1 bedroom flat - £309,000, down £17,000
- 2 bedroom flat - £502,000, down £78,000
- 2 bedroom house - £558,000, down £43,000
- 3 bedroom house - £776,000, down £21,000
- 4 bedroom house - £1,090,000, down £32,000
Advertised private sector rental prices were 1% higher than both the previous quarter and a year earlier.
The HPI has been published just as the Bank of England announced a quarter of a percentage point rise in the base rate of interest, to 4%.
It is the first increase in three years and will mean higher repayments for homeowners whose mortgages track the base rate.
The BoE hopes making borrowing more expensive will slow inflation caused by the Iran War.
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