Latest Market Results

As Guernsey's leading Property Professionals, Swoffers are delighted to share with you the LATEST market statistics to the end of 2011 to help give you an idea how the market has fared over the years.

To put the figures into some context it might help to know that;

• 45 to 60 sales would suggest a year affected by strong outside influences e.g. concerns about the economy, unprecedented world events, concerns running up to a General Election in the UK, etc
• 85 to 95 sales would indicate a fairly average year
• 100 would be considered slightly on the high side
• 110+ would be exceptional.

Less Open Market houses were sold in both 2008 and 2009, as a result of the overall world economic climate.

In the first of those years the average price actually rose because of the large number of expensive houses sold during the period including a sprinkling of record breaking prices between £5m - £7m.

Although in 2009 a fair number of expensive houses were also sold, some achieving prices in excess of £1m with a fair number selling for between £2m and £3m.the average price dropped because of two factors, the lack of record breaking prices and the number of relatively inexpensive houses which were conveyed. The lower graph should therefore be viewed in that context.

2010 showed a dramatic upturn in houses sold as confidence came back into the market. If it hadn’t been for the extreme weather experienced in the UK in the latter part of the year, making it difficult for potential buyers to travel far from home, it is entirely possible that the figure would have been even higher.

It is interesting to note that in what has proved to be a difficult year for sales those which have been carried out span the whole marketplace from £6.1m to £450,000 (interestingly both apartments!). 18 properties exchanged hands for under £1m, 19 between £1m and £2m, 7 between £2m & £3m and 4 in excess of that figure. The drop in the market in 2011, to a great degree, reflects the fact that it has now become evident that economic recovery in the UK and beyond is going to take much longer than had been originally anticipated. The state of the euro has also added to the problem and this has meant that, in a number of cases, those who were anticipating a move to Guernsey have had to put their plans on hold for a while, however, it has been a year when those already living in Guernsey have taken the opportunity to move and consequently there has been a fairly active market for such sales. It is at times like this that Swoffers’ solid reputation and tremendous insight into the market based on years of experience has enabled us to still sell over two-thirds of those homes which have been conveyed .

Should you wish to discuss these figures please contact one of Swoffers friendly, expert team.