It’s good news for buyers and sellers across Guernsey’s Local and Open property markets as sales continue to be buoyant in the first quarter of 2019.
Figures compiled independently by Unusualities of Guernsey, reveal sales activity in the Local and Open Markets was at its highest first quarter levels since 2011 and 2007 respectively.
There were 193 Local Market houses and flats sold in the first quarter of 2018, up from 151 for the same period last year and one fewer than the 194 recorded in the first quarter of 2011.
‘The team at Swoffers has had a really busy start to 2019, continuing on from last year, as we are starting to see increased confidence in the property markets,’ says Swoffers Director, Spencer Noyon.
‘We are seeing cash buyers who temporarily moved into rental accommodation now stepping back onto the property market and increased demand generally across all sectors.
‘The problem now is one of supply and demand as sales stock isn’t being replenished quickly and new-builds are not catering for all areas of the market,’ says Spencer.
The newly published statistics for Q1 also indicate an increase in the median price for both houses and flats on the Local Market.
‘It’s difficult to draw any meaningful conclusions from the average prices published in the statistics but I would say that in general terms we are looking at an uplift of circa 3-5% over the last year.
‘However, prices are probably back to levels seen in 2011-2012 following falls over the last few years.
‘We should remember though that people are looking to buy and sell in the same market and are generally looking for a home rather than an investment and so important factors for vendors to consider are pricing your property sensibly, presenting it well and being flexible about viewings. The experienced team at Swoffers are here to provide help and guidance through every step of the buying or selling process and aim to try to make it as stress-free as possible.’
For the Open Market, Unusualities of Guernsey recorded 19 transactions in the first 3 months of 2019, which is seven more than the first quarter of 2018 and the highest total for a first quarter since 2007.
‘We are continuing to build on a successful 2018 and interest remains high from people looking to relocate to Guernsey for whatever reason, be it lifestyle, business or the stable, secure environment the Island offers,’ says Craig Whitman, Swoffers Open Market Director.
‘Swoffers remains the number one agent of choice for buyers and sellers in both the Local and Open Markets and we always strive to deliver a high-quality, knowledgeable service and, of course, make sure we find people their perfect home.’