About 75 people attended a property research event hosted by Savills Jersey on the evening of Wednesday 6 November.
The Home Truths event was held at DiCasa, Chapelle de la Maison in Gorey Village, and included property research updates from Savills experts.
Paul Tostevin, director, Savills Research, presented on the Jersey and UK property markets. Set against steady in-migration, Jersey’s mainstream residential market continues a strong run, with prices rising 8% year on year to June 2019, and 20% since the 2008 peak. The new build apartment market is strong on the island but most of the price growth has been seen in the family home market of three and four bedroom properties.
Jersey’s prime market remains resilient, with interest in both Channel Islands having increased against a backdrop of Brexit and general political uncertainty in the UK. However many buyers from the UK have adopted a ‘wait and see’ approach and political clarity in the UK may unlock pent up demand.
Longer term, population increases will underpin growth, but affordability is increasingly squeezed.
Geri O’Brien, head of Savills Jersey, then spoke about some of the office’s successes throughout 2019 and showcased a selection of notable instructions.
There were also presentations from Coutts Crown Dependencies and NatWest International providing information about property finance solutions, before guests enjoyed live jazz music from Chris Lafferty, drinks and canapes.
Geri said: “Our Home Truths event was a great opportunity to present our market expertise; the evening was a huge success and we’ve had very positive feedback from those who attended.
“Chapelle De La Maison was a wonderful venue for the event which was kindly offered to Savills at no cost and because of this kind gesture, we were able to make a donation to Baby Lifeline.”
Photograph courtesy Gallery