Average local market house price deceptive

13th August 2014

The average price of local market property calculated between April and June 2014 was £468,878. This is 3% higher than the same quarter of 2013 and 3.4% higher than the previous quarter.

But these mix-adjusted average prices calculated by the States Policy Council are deceptive.

An increase in prices often reflects an increase in sales, but there were nearly 20% fewer local market sales (156) during the second quarter of 2014 compared with the same quarter of 2013.

The lack of funding for first time buyers has shifted emphasis in the market onto higher price ranges, which skews statistics. The true message is that house prices are not necessarily rising but that market activity is focused on sectors less reliant, or more attractive, to bank funding.

Contact any of the Cooper Brouard local market sales team without charge or obligation for an experienced evaluation of Guernsey’s housing market and what your property is worth.