17 February 2022
The house price report for the fourth quarter 2021 has been published today by Statistics Jersey.
Annual Summary
In 2021:
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on a calendar year basis:
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the Jersey House Price Index was 16% higher than in 2020
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all property types saw their average price increase
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all property types recorded their highest annual average price seen to date
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advertised private sector rental prices were 2% higher than in 2020
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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)
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the annual turnover (1,665) was the highest turnover seen to date
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overall housing affordability worsened on an annual basis;
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2- bedroom houses were more affordable than in 2020
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all other property types were less affordable to purchase than in 2020
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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
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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:
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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)
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on a quarterly basis:
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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)
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all property types saw an increase in their mean price compared to the previous quarter
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all property types were at their highest mean price seen to date
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the turnover of properties was 8% higher than in Q4 2020 and 30% higher than in the previous quarter (Q3 2021)
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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
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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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