The Guernsey Residential Property Prices Bulletin for the first quarter of 2026 has been released.
The bulletin measures average price changes in residential properties purchased and advertised as being available to rent on the island each quarter and provides a headline analysis of trend prices. It includes a rental index, a purchase price to earnings ratio and the average purchase and rental prices by type of property and number of bedrooms.
The mix adjusted average purchase price for the Local Market properties transacted during the first quarter of 2026 was £604,094; 1.4% higher than the previous quarter and 4.1% higher than the first quarter of 2025. The average was 18.5% higher than five years previously.
Note that the ‘mix adjusted price’ is a measure of the value of the properties sold during the quarter, not a reflection of the values of individual properties nor the change in the value of any one property over time. Many factors, including age, location and quality, determine the actual value of individual properties.
There were 163 Local Market transactions during the first quarter of 2026, which was 83 fewer than the previous quarter and three fewer than the first quarter of 2025. Five years previously, in the first quarter of 2021, there were 167 transactions.
Nick Paluch (pictured), director in the residential sales team at Savills Guernsey, said: “For the most part, Guernsey’s housing markets have continued where they left off at the end of 2025. It’s been a fairly steady start to the year and despite wider geopolitical tensions confidence has remained relatively robust – albeit there’s a clear focus on value and affordability.
“Average values across the Local Market remain broadly stable, with sensibly priced smaller homes and apartments in high demand. Transaction levels are also little changed when compared to the end of last year, reinforcing the market’s longer-term resilience.
“The Open Market is where we’ve seen larger gains – with a notable increase in transactions compared to the start of 2025. The uplift echoes the strong momentum we experienced at the end of last year and reflects Guernsey’s continued popularity among relocators. The island lifestyle remains hugely attractive and where pricing has aligned with expectations we’ve completed several deals. We’ve even seen some activity coming out of Dubai for those wanting to be closer to UK soil.
“Looking ahead, transaction levels should be maintained by the spring market and hopefully stability on interest rates. The lower end of the market is being underpinned by first time buyers and downsizers alongside a small return of investment buyers. Guernsey’s appeal as a place to live and do business is ever important and will maintain our position internationally. Nevertheless, mortgage rates remain elevated compared to recent standards and buyers will likely be selective, so setting a sensible guide price will still be important for those hoping to sell.”
