Q1 figures show confidence in Guernsey property market

Property sales figures for the first quarter of 2020 paint a positive picture of Guernsey’s property market.

The Q1 statistics, published by the States of Guernsey, show there were 174 Local Market transactions during the first quarter of 2020, 17 fewer than the previous quarter and three fewer than the same quarter of 2019.

There were 17 Open Market transactions in the first three months of this year compared to 18 in the first quarter of 2019.

The mix adjusted average purchase price for Local Market properties was £444,150 in the first quarter of 2020, 0.6% higher than the previous quarter and 4.4% higher than the first quarter of 2019.

‘It is interesting to note that the volume of sales is pretty much the same as Q1 2019 but clearly prices are up,’ said Andre Austin, Swoffers Director.

‘These figures indicate increased confidence in the marketplace from both buyers and sellers, a trend which was continuing until lockdown and is now starting to increase again in the limited time we have been operating under the new public health guidelines.

‘As long as banks continue to lend and we have a healthy employment rate, there remains a desire to move house and we are starting to see an increase in supply too, as we move into the usually busy summer months,’ said Andre.

‘It’s too soon to say what the long-term impact will be on Open Market sales after the positive start to 2020 but Guernsey is in a good place. The island’s leaders have handled the Covid-19 outbreak in an extremely professional and open manner, restrictions are being further lifted and the team at Swoffers is optimistic about the future.

‘Judging by the amount of phone calls, emails, viewings and valuations we have been dealing with over the past week or so it seems the Guernsey community shares our optimism.’

If you would like to discuss any aspect of the property market, whether buying, selling, renting or letting don’t hesitate to contact a member of our experienced team on 01481 711766 or email sales@swoffers.co.uk


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