On Air Now Through The Night Midnight - 7:00am Playing Positions - Ariana Grande
Now Playing Ariana Grande Positions

First Homes Reach New Record Prices

The average paid for a home in Jersey has risen to £686,000.

House prices are up ten percent in the year to the end of June, with new record high prices for those trying to get onto the property ladder.

One bedroom flats sold for an average of £353,000 in the spring. 

That is £14,000 more than at the end of March. 

Two-bed flats hit £536,000 two-bedroom houses were up by £58,000 to £664,000 - both also record highs.

Three-bedroom homes fetched less on average than three months ago at £853,000.  They has topped the £900,000 mark in the first three months of 2022.

It's the first drop in the value of a 'family home' in two years.

Housing Minister Deputy David Warr says it is 'good news' that the rate of increases is falling :

The House Price Index says private rents being advertised were 2% higher than a year ago.

Mean prices by size in Q2 2022 compared with the previous quarter:

  • 1 bedroom flat  - £353,000, up £14,000
  • 2 bedroom flat  - £536,000, up £17,000
  • 2 bedroom house - £664,000, up £58,000
  • 3 bedroom house  - £853,000, down £45,000
  • 4 bedroom house  - £1,329,000, up £163,000

The average paid for a property here is now £686,000.

The London average is £530,000 and the UK average is £283,000.

On Guernsey's Local Market it's £598,693.

More from Jersey News

Island FM VIP

Get more with the Island FM VIP!

Download Our App

Never miss a moment from Island FM

  • Available on the App Store
  • Available on Google Play
  • Just ask Amazon Alexa