House Price Index report for Q4 2015

25 February 2016

The house price report for the fourth quarter of 2015 has been released by the States Statistics Unit.

In 2015:

the Jersey House Price Index was 4% higher than in 2014, representing the second consecutive annual increase in property prices
houses of all sizes saw average prices increase in 2015, with 2-, 3- and 4- bedroom houses all recording their highest ever annual averages, while flat prices were essentially unchanged from that seen over the last few years

In the fourth quarter of 2015:

on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2015 was essentially unchanged compared with the previous quarter (ending Q3 2015)
on a quarterly basis:

the seasonally adjusted mix-adjusted average price in Q4 2015 was essentially unchanged compared with the previous quarter and 2% higher than the corresponding quarter in 2014
1-bedroom flats recorded a higher mean price than in the previous quarter
2-bedroom flats recorded a mean price that was essentially unchanged compared with the previous quarter
2-bedroom houses recorded lower mean prices than in the previous quarter
3- and 4- bedroom houses both recorded increases in mean prices, and, in both cases, this most recent figure represents the highest mean price for these classes of property recorded to date

the turnover of properties in Q4 2015 was the highest recorded quarterly figure since 2008
overall housing market activity, on a rolling four-quarter basis, was 5% higher than in the previous quarter (Q3 2015) and 11% higher than the corresponding quarter of 2014