There’s been a huge increase in the number of apartments sold in Jersey, while sales of houses has gone down.
It’s one of many figures revealed in the latest house price report from the States Statistics Unit which reveals, overall, property prices rose by 3% in the year to the end of 2017.
An average three-bedroom house will set you back £573,000 – up £39,000 on the previous year, while a two-bedroom apartment rose in value by £20,000 to £369,000.
In total 1,506 properties were sold throughout the year. Of those, 713 were apartments.
Here are some other 2017 highlights from the property market:
- the Jersey House Price Index was 3% higher than in 2016
- all property types saw average prices increase in 2017
- 2-bedroom flats together with 3- and 4-bedroom houses all recorded their highest ever annual averages
- turnover of properties was 7% higher than in the previous year; this increase in turnover was driven by increased sales of flats, where turnover increased by 26%; in contrast the number of house sales declined by 6% in 2017 compared to 2016.
You can read the house price report in full here.