Local Market property sales in 2019 were the highest since 2007 according to the latest figures from Unusualities of Guernsey, an independent compiler of local conveyancing statistics.
Local market sales were up by 51% on 2015 – the height of the financial crisis. In total, there were 879 local market sales in 2019 – 34 more than in 2018, equating to an annual rise of more than 4%.
‘It has been a record year for our Local Market sales team,’ said Spencer Noyon, Swoffers director and local market negotiator.
‘The market picked up in 2018 and this has continued throughout the last 12 months. Every indication is that this level of activity will continue as long as we see a good supply of sensibly-priced properties coming to the market for sale.’
Within the open market, Swoffers negotiated the top ten most expensive individual sales in 2019 and already has a good number of sales due to complete in January. There were 71 open market sales in 2019 compared to 75 in 2018, and the proportion of high value properties sold was high. There were 25 Open Market sales over £1.5m of which 18 were over £2m, confirming renewed interest in relocating to Guernsey.
‘The turbulent political situation across the water in the UK has certainly influenced a number of new clients who have moved to the island in the past year,’ said Shauna Clapham, Swoffers director and open market negotiator.
‘Although Guernsey continues to be somewhat of a hidden secret, we have been continuing to target potential buyers and relocators through our innovative use of digital marketing and by joining delegates from Guernsey Finance on a recent We Are Guernsey marketing trip to Dubai, Singapore and Hong Kong.
‘We are optimistic for 2020 as we have sales in the pipeline and offers being considered. Guernsey’s stable tax regime and well-regulated, supportive business environment are important factors in the decision-making of relocators along with the island’s safety and security.’
Swoffers’ lettings and management team has also had a record-breaking year as the rentals market remains strong.
‘We have grown our property management and lettings team over the last year to cope with the increased level of demand and are proud to have the largest and most experienced team of property professionals to look after our clients’ needs,’ said Andy Biggins, Swoffers director and property manager.
‘The rentals market continues to be very busy with quality, well-priced properties being snapped up within 24 hours. Renting out property remains a sound investment and we expect 2020 to continue to be busy.’