House price report for the first quarter 2020 published

21 May 2020

The house price report for the first quarter 2020 has been published today by Statistics Jersey.

In the first quarter of 2020:

on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q1 2020 was 1% higher compared with the previous quarter (year ending Q4 2019)
on a quarterly basis:

the seasonally adjusted mix-adjusted average price was 1% lower than in the previous quarter and was 5% higher than in the corresponding quarter of 2019 (Q1 2019)
1-bedroom flats and 4-bedroom houses saw a decrease in mean price compared with the previous quarter
all other property types saw an increase in mean price compared with the previous quarter

the turnover of properties was 11% lower than in Q1 2019; while there may have been some impact on the level of turnover in Q1 2020 due to the developing pandemic situation in Jersey, the majority of the latest quarter occurred prior to the introduction of COVID-19 related government interventions
overall housing market activity, on a rolling four-quarter basis, was essentially unchanged compared with the previous quarter (Q4 2019) and was 6% higher than in the corresponding quarter of 2019
on a rolling four-quarter basis, advertised private sector rental prices increased by 1% during the year ending Q1 2020 compared with the year ending Q4 2019