Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

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 2022

16 February 2023

The house price report for the fourth quarter 2022 has been published today by Statistics Jersey.

The Jersey House Price Index measures the combined average price of 1- and 2-bedroom flats together with 2-, 3- and 4-bedroom houses. The index includes properties transacted through the Royal Court as well as share transfer properties.

Annual Summary

In 2022: 
  • on a calendar year basis:
    • the Jersey House Price Index was 11% higher than in 2021
    • 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 10% higher than in 2021
  • turnover of properties was 12% lower compared with 2021, due to increased sales of 1-bedroom flats (by 22% on an annual basis) and decreased sales of all other property types (by 15% or higher on an annual basis)
    • the first three quarters of both 2022 (1,174) and 2021 (1,173) saw essentially the same turnover
  • overall housing affordability worsened on an annual basis;
    • all property types were less affordable to purchase than in 2021
    • 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 2022:
  • on a rolling four-quarter basis, the mix-adjusted average price of dwellings sold in Jersey during the year ending Q4 2022 was 1% higher when compared with the previous quarter (year ending Q3 2022)
  • on a quarterly basis:
    • the seasonally adjusted mix-adjusted average price was 4% lower than in the previous quarter and 6% higher than in the corresponding quarter of 2021 (Q4 2021)
    • 1-bedroom flats and 4-bedroom houses saw an increase in their mean price compared to the previous quarter, reaching their highest mean prices to date
    • 2-bedroom flats and 3-bedroom houses saw a decrease in their mean price compared to the previous quarter
    • 2-bedroom houses were essentially unchanged from the previous quarter
  • the turnover of properties was 40% lower than in Q4 2021 and 27% lower than in the previous quarter (Q3 2022) 
  • overall housing market activity, on a rolling four-quarter basis, was around 11% lower than in the previous quarter (Q3 2022) and 3% lower than in the corresponding quarter of 2021
  • on a rolling four-quarter basis, advertised private sector rental prices were 2% higher during the year ending Q4 2022 compared with the year ending Q3 2022

Read the full report

Back to top
rating button