The new Housing Minister, Deputy Malcom Ferey, has told Channel 103 that creating mobility in the property market is one of his main priorities for this political term.
Deputy Ferey wants those who can downsize to be incentivised - through changes to stamp duty - encouraged, and able to do so.
He says a thriving market is as much about moving 'up' the property ladder into aspirational homes as it is about moving 'down' to free them up.
"I want to make mobility in the market easier for people.
"...Those people who want to get on the market and move up. Equally, those people who are living in a property that is extra to their needs, and they want to downsize.
"I want to facilitate that and make it a bit easier... maybe make it a little bit cheaper for them through stamp duty.
"I'd like to see more of the right properties built with adaptations in mind so people can move to those at a later time in their lives.
"Hopefully, they will then release those bigger, under-occupied properties and someone who aspires to those properties can move in and fully occupy them.
Latest housing market data, published last week, revealed more properties are changing hands compared to a year ago. Deputy Ferey says that is 'encouraging'
The minister says the Council of Ministers is exploring measures that support home ownership and access to suitable and affordable housing.
"The more people who are in home ownership... they're here longer term. They're happier."
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