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Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

House price report for the fourth quarter 2021

17 February 2022

The house price report for the fourth quarter 2021 has been published today by Statistics Jersey. 

Annual Summary

In 2021: 
  • on a calendar year basis:
    • the Jersey House Price Index was 16% higher than in 2020
    • all property types saw their average price increase 
    • all property types recorded their highest annual average price seen to date
    • advertised private sector rental prices were 2% higher than in 2020
  • turnover of properties was 19% higher compared with 2020, due to increased sales of flats (by 28% on an annual basis) and increased sales of houses (by 11% on an annual basis)
    • the annual turnover (1,665) was the highest turnover seen to date
  • overall housing affordability worsened on an annual basis;
    • 2- bedroom houses were more affordable than in 2020
    • all other property types were less affordable to purchase than in 2020
    • a working household with mean net income was able to service a mortgage affordably on the purchase price of a median-priced 1- 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 or a 2- bedroom flat 

Quarterly Summary 

In the fourth quarter of 2021: 
  • on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2021 was 4% higher when compared with the previous quarter (year ending Q3 2021)
  • on a quarterly basis:
    • the seasonally adjusted mix-adjusted average price was 4% higher than in the previous quarter and 18% higher than in the corresponding quarter of 2020 (Q4 2020)
    • all 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 8% higher than in Q4 2020 and 30% higher than in the previous quarter (Q3 2021) 
  • overall housing market activity, on a rolling four-quarter basis, was around 7% higher than in the previous quarter (Q3 2021) and 39% higher than in the corresponding quarter of 2020
  • on a rolling four-quarter basis, advertised private sector rental prices were 1% higher during the year ending Q4 2021 compared with the year ending Q3 2021
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