As Guernsey’s leading Property Professionals, Swoffers are delighted to share with you the LATEST market statistics to the end of 2013 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 heartening to note that after a poor showing for sales in 2011 the number sold in the whole marketplace in 2012 exceeded the previous year’s number by 25%. To a great degree the drop in the market in both years reflected the fact that it became evident that economic recovery in the UK and beyond was going to take much longer than had been originally anticipated. However, during 2012 those already living in Guernsey took the opportunity to move and consequently the market remained quite active.
2013 proved to be a similar year to 2012 with the number of houses sold staying virtually identical whilst the average price rose fairly dramatically. This was due to the conveyance in 2013 of a small number of expensive houses plus a fair number of sales in the £1m – £3m price band whilst in 2012 the sales were predominantly sub-£1m. This should be borne in mind when looking at the lower graph.
Should you wish to discuss these figures please contact one of Swoffers friendly, expert team.