House Price Index report for Q4 2013

20 February 2014

The House price Index report for the fourth quarter of 2013 has been released by the Statistics Unit.

the mix-adjusted average (mean) price of dwellings sold in Jersey in calendar year 2013 was 1% lower than in 2012
2013 represents the fourth consecutive year in which the average dwelling price has decreased marginally on an annual basis; over the five-year period from 2009 to 2013, the overall mean price has fallen by 6%
the mean price of 1-bedroom flats was slightly higher in 2013 than in 2012; in contrast the mean price of 2-bedroom flats fell slightly, returning to a level seen previously in 2011
2-bedroom houses recorded the lowest annual mean price since 2007, whilst the average price of 3-bedroom houses decreased for the fourth consecutive year; the mean price of 4-bedroom houses remained stable in 2013
on a quarterly basis, in Q4 2013 the Jersey House Price Index was 5% lower than in the previous quarter and 3% lower than in the corresponding quarter of 2012
the turnover of properties sold in 2013 overall was 3% lower than 2012, although an increase in turnover was observed in the latter half of 2013
share transfer properties accounted for half of all flats sold in 2013, a lower proportion than that seen in 2011 and 2012