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Property sales picking up as prices back on the rise

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PROPERTY prices in the island are back on the rise and sales are picking up, according to the latest official statistics.

The third quarter of this year saw 200 property sales goes through the courts.

There were 200 property sales going through the courts in the third quarter this year, four more than in Q2 and 41 more than during the same period last year.

It was the busiest quarter for sales since 2012.

The Guernsey House Price Index’s mix adjusted average purchase price for local market properties was £423,130, 1.2% higher than the previous quarter and 2.5% higher than last year.

The average price is now almost exactly what it was at the end of 2015.

Property law specialist Martyn Baudains, partner leading the property team at local law firm Ogier, said the figures indicated sustainable and measured improvement in the market.

Full story in Saturday's Guernsey Press

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