House price report for the fourth quarter 2020

18 February 2021

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

In 2020:

turnover of properties was 10% lower compared with 2019, due to decreased sales of flats (down by 19% on an annual basis)

this decrease in flat sales was driven by a decrease in sales of newly built properties, with around 180 fewer sold in 2020 compared with 2019

3 and 4- bedroom houses were more affordable than in 2019
other property types were less affordable to purchase than in 2019
a working household with mean net income was able to service a mortgage affordably on the purchase price of a median-priced 1- or 2-bedroom flat
a working household with mean net income was not able to service a mortgage affordably on the purchase price of a median-priced house of any size

In the fourth quarter of 2020:

on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2020 was 1% higher when compared with the previous quarter (year ending Q3 2020)
on a quarterly basis:

the seasonally adjusted mix-adjusted average price was 6% higher than in the previous quarter and 6% higher than in the corresponding quarter of 2019 (Q4 2019)
3- bedroom houses saw their mean price remain at a similar level to the previous quarter
all other property types saw an increase in their mean price compared to the previous quarter
all property types were at their highest mean price seen to date

the turnover of properties was 20% higher than in Q4 2019 and 4% higher than in the previous quarter (Q3 2020)
overall housing market activity, on a rolling four-quarter basis, was around 8% higher than in the previous quarter (Q3 2020) and 6% lower than in the corresponding quarter of 2019
on a rolling four-quarter basis, advertised private sector rental prices were essentially unchanged during the year ending Q4 2020 compared with the year ending Q3 2020