The third quarter of 2019 has continued to be positive for Guernsey’s property market with prices remaining stable and the volume of sales increasing.
There were 249 Local Market transactions during the third quarter of 2019, 21 more than the previous quarter and just two fewer than the same quarter of 2018.
The mix adjusted average purchase price for Local Market properties was £426,560 in the third quarter of 2019, 0.3% lower than the previous quarter but 1.6% higher than the third quarter of 2018.
Four-bedroom houses or bungalows had the highest proportion of transactions at 17% of total sales and properties between £400,000 and £499,999 showed the largest increase in the number of sales, up from 16% to 23% of all sales.
Q3 2019 was another record quarter for Swoffers.
“We have continued Q3 where we left off in Q2 and again we’ve seen lots activity in the mid-range of the market, something which is reflected in the official figures and it’s good to see prices are remaining stable,” says Andre Austin, Swoffers Director.
“This will continue to give more confidence to those looking to buy and also for sellers to know there are plenty of buyers around ready to make the move.
“Stock levels continue to be an issue across all sectors of the market so it would be great to see more properties being listed for sale in the coming months, especially larger family properties. As is evidenced by the high number of 4 bedroom property sales, this is one area where demand outstrips supply.”
There were 18 Open Market transactions in the third quarter of 2019. One more than the same quarter in 2018 and six more than Q2.
“Open Market enquiries continue to be strong, no doubt fuelled by the political situation in the UK and further afield,” says Andre.
“Guernsey is a safe, stable jurisdiction with favourable tax rates, no inheritance or capital gains taxes and a wonderful quality of life and so offers a great alternative for those looking to relocate. We are continuing to promote Guernsey and all it has to offer to a wide audience around the globe through our innovative digital marketing as well as joining Guernsey Finance on their current We Are Guernsey marketing trip to Singapore, Hong Kong and Dubai. So far, the response has been really good with people interested in finding out more about what the island can offer them both in terms of moving their business here as well as their home.
“We are confident this level of interest in the Open Market will continue.”
The official figures can be found on the States of Guernsey website
