States houses sale could raise £430m.

PROPOSALS to sell the entire States housing stock could net a bonanza payout of more than £430m.

The windfall could occur if the States transferred the 1,649 properties it owns to the Guernsey Housing Association or a similar body.

Based on the latest available valuation of the housing stock at £437m., every property would be sold for an average of around £265,000.

Estate agents, however, have warned that States homes would fetch less than private sales in the general market and deputies have been told that any such transfer was likely to be at a discounted rate.