House Price Index report published

24 May 2012

The latest report for the first quarter of 2012 shows that:

the mix-adjusted average price of dwellings sold in Jersey in Q1 2012 was:
- essentially the same as in the previous quarter (Q4 2011)
- 5% lower than a year earlier (Q1 2011)
- 4% lower than the average recorded for 2011
- at the lowest recorded level for 4 years (since Q4 2007)
the decline in mix-adjusted average price compared with 2011 was driven by houses (2-, 3- and 4-bedroom) which have experienced falls in mean price of between 5% and 8% on an annual basis
in contrast, the mean price of 1- and 2-bedroom flats in the latest quarter was similar to that recorded for calendar year 2011
the turnover of properties sold in Q1 2012 was almost a quarter (24%) higher than in the previous quarter, driven by an increase in sales of share transfer 1-bedroom flats