Property sales highest since 2007

The recently published Q4 property prices bulletin confirms that 2019 was a busy year on both the local and open markets.

The total number of local market sales in 2019 was 845, 35 more than in 2018 and the highest annual total since 2007.

‘Swoffers had a record year in 2019 and that trend is continuing in 2020,’ said Scott Ingrouille, local market sales negotiator.

‘January and February have been extremely busy both with sales and new instructions and buyers need to be quick, as well-priced family properties are not hanging around long. The best thing to do is register with Swoffers and you will receive all the latest news and properties straight into your inbox.’

In the fourth quarter of 2019, the two-bedroom house category had the highest proportion (18%) of transactions. Three-bedroom bungalows were also popular, representing 15% of all sales.

‘In our experience there is still a big demand for larger family homes. We have a number of people looking for three and four bedroom properties but at the moment there is limited supply,’ said Scott.

The average sale price of a property is not necessarily a clear indication of the performance of the market, but the mix-adjusted average purchase price for local market properties was £441,295 in the fourth quarter of 2019, 3.5% higher than the previous quarter and 0.8% higher than the fourth quarter of 2018.

It’s been a solid start to the year on the open market too, with 10 sales in January, eight of which were sold by the Swoffers team.

You can read the full Guernsey Residential Property Prices Bulletin online

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