Guernsey estate agent Cooper Brouard has reported that the vibrant sales and rental markets of 2022 look set to continue into 2023, albeit at a slightly less frenzied pace.
Cathy Gallienne, Director at Cooper Brouard, commented on recent results and paints a positive picture: “A greater choice of property on the Local Market is leading to more viewings and starting to encourage previously hesitant vendors to put their homes on the market. Offers are being accepted and sales are proceeding as the market adjusts to changing conditions.”
The numbers of homes available to buy on the Open Market is limited, particularly at the entry price level, but the high volume of applicant enquiries from those looking to relocate in 2023 is very encouraging.
Demand for rental homes has levelled out but supply is low. The reduction in advertised rental prices reported in recent government statistics reflects landlords’ response to the changing economic landscape, with many not applying full RPI increases to rents.