House price statistics

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House Price Index for the fouth quarter 2024

Context

Summary

• on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2024 was 1% lower when compared with the previous quarter (year ending Q3 2024)
• on a quarterly basis:
• the seasonally adjusted mix-adjusted average price was 1% higher than in the previous quarter and 5% lower than in the corresponding quarter of 2023 (Q4 2023)
• the HPI was 10% lower than the peak in prices seen in Q2 2022
• 1- and 2-bedroom flats saw an increase in their mean price compared to the previous quarter
  
• 2- and 4-bedroom houses saw a decrease in price compared with the previous quarter
• 3-bedroom houses were essentially unchanged compared with the previous quarter
• the turnover of properties was 7% higher than in Q4 2023 and 9% higher than in the previous quarter (Q3 2024) 
• overall housing market activity, on a rolling four-quarter basis, was essentially unchanged compared with the previous quarter (Q3 2024) and 23% lower than in the corresponding quarter of 2023
• on a rolling four-quarter basis, advertised private sector rental prices were essentially unchanged during the year ending Q4 2024 compared with the year ending Q3 2024​​
  

Source: Statistics Jersey, chart data

Previous reports

You can search by year for previous House Price Index reports on Statistics Jersey reports and documents. ​

A comparison between the Jersey Retail Prices Index, the Index of Average Earnings and the House Price Index is shown below. Since 1997 house prices in Jersey have seen a greater overall increase than earnings and retail prices.

Retail price, average earnings and house price indicies

Source: Statistics Jersey, chart data

Calculating the Jersey House Price Index

The average cost of dwellings in Jersey is measured quarterly by the Jersey House Price Index. This index measures the combined weighted average price of one and two-bedroom flats and two, three and four-bedroom houses.

The principal data sources on the transaction prices of property sales used in the Jersey House Price Index are:

• the Public Registry Index and Document Enrolment (PRIDE) database for freehold and flying freehold properties
• the States of Jersey Taxes Office for share transfer transactions

The above data are supplemented by information on the type and size of each property provided by the States of Jersey Population Office.

Private Sector Rental Index

The Jersey Private Sector Rental Index was published from 2007 until 2012 using rental consent data from the States of Jersey Population Office. The index was derived from the mean rent of properties for which rental consents were granted by the Population Office during each quarter, not from all private sector rents in the Island.

The Private Sector Rental Index was not produced from December 2012 to June 2015 due to the rental data no longer being collected. More recently a revised index has been produced using advertised rental prices from both internet and classified adverts. This data is currently published as part of the house price index report.

Royal Court housing activity

Royal Court transactions represent essentially all the residential house sales and around 30% of residential flat sales in Jersey. Generally, Royal Court transactions account for around three-quarters of the residential properties that are included in the House Price Index, the remaining property transactions that make up the House Price Index data are transacted by share transfer.

Cumulative total of HPI eligible R​oyal Court transactions​

Data Tables

You can access the data tables on the open data website.​