Alderney house sales reach highest since 2006

There have been 80 sales this year so far and Bell & Co managing director Andrew Eggleston said he can see that number rising to 100 before the year is out.

‘The last and only time we have reached that was back in 2006. We used to have an average of one sale a week but that has now doubled,’ he said.

A significant amount of revenue from the property market surge has been generated through document duty costs, all of which can be retained within the island.

The States of Alderney has consequently been able to send £500,000 to reserves this year, which is some £400,000 more than was originally expected.

‘So many people have just discovered Alderney. We have people saying they had no idea how many restaurants we have and the quality of food and cracking hotels and comparing it to what Guernsey was like 30 years ago.

‘We’ve even been selling to people from the UK and we’ve sold a few properties blind and using video walk-throughs,’ said Mr Eggleston.

He said that people from Guernsey and the UK made up a good proportion of property buyers, as well internal movement in the island.

‘It shows people have confidence in the economy.’

Alderney’s Policy & Finance chairman Bill Abel gave an update at the recent budget meeting and noted that the island was dealing with a shortage of affordable housing, social and key-worker housing and rental property.

He also warned that the current property boom was unlikely to continue for long.

Jenny Heald, who is due to open a new nursery in the island early next year, said that houses are not affordable for young families.

She bought her home last October and it is now worth £150,000 more than when she purchased it.

‘It’s creeping up to Guernsey prices.

‘I know a couple who both have well-paid jobs who have had to move back to their parents’ homes because they can’t afford to live here.’