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Average House Price Dips To £609k

The cost of an average property in Guernsey is just over £609k, 4.9% lower than a year ago.

The average price paid for property in the island continues to fall, but remains 47.5% higher compared to five years ago.

The market is still steadying after a spike during the Covid-19 pandemic.

12 more Local Market houses sold in the fourth quarter of 2023 than in the previous quarter, however that number is down by 31 on a year ago.

In total, 150 Local Market properties were sold between October and December 2023.

Only seven Open Market transactions were made during that time, averaging at just over £1.4 million.

Rental properties on the Local Market now cost on average £1,922 pcm, an increase of 11.9% since the end of 2022.

Full details of the States' collated Residential Property Prices for Q4 2023 can be found here.

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