Housing transactions in Guernsey up 25% on the same period last year
Total local market property sales to the end of quarter 3 2016 demonstrate a 25% increase on the same period last year with an additional 95 transactions completed.
The number of house sales for Q3 2016 is up 7% on Q3 2015 with 159 transactions compared to 149 last year.
House prices are, however, 5% down on the previous quarter, and 7.6% down on Q3 2015. The average house price in Guernsey is now £412,792.
Nigel Pascoe, Director of Lending, Skipton International, said: “House sales in Guernsey show a positive trend for the year to date and the increased number of transactions this quarter is a good sign that the market is continuing to move in the right direction.
“The drop in prices for this quarter is less significant as this can be attributed to a larger number of sales going through in the lower price bands.”
This quarter 11 transactions went through in the under £200,000 band, compared to 5 for Q3 2015.
Skipton International is one of the largest providers of new Guernsey mortgages and the Guernsey-registered bank is seeing strong demand, particularly from first-time buyers.
Skipton International also offers a range of savings accounts, with competitive interest rates, for UK expats in over 100 countries. Skipton won the Moneyfacts Award for Best Offshore Account Provider 2016, a category it was also Commended and Highly Commended for in 2014 and 2015.
For more information on how Guernsey’s house prices compare to Jersey and the UK, check out the Skipton House Price Index.