House price increases ‘are not a Guernsey phenomenon’
GUERNSEY is not alone in experiencing rising property prices.
That’s the view of Simon Torode, founder and chief executive officer of estate agency Livingroom, after the States of Guernsey’s latest property bulletin for quarter four of 2020 was published.
‘While the latest property figures show the largest annual change (11.8%) in the mix adjusted average price since the measure was first calculated, in 2008, Guernsey is not alone in experiencing rising prices,’ he said.
‘In Jersey, the latest figures (from Q3 2020) show that the average property price there is £533,000, a record high.
‘In the UK, annual house price growth rose to a six-year high of 7.3% at the end of December 2020, according to data from Nationwide.
‘The East Midlands saw the strongest growth in prices in Q4, but prices were up across all regions.’
Mr Torode added: ‘So Guernsey is not alone.
‘The pandemic has caused a worldwide reassessment of priorities and has resulted in behavioural shifts that have contributed to increased demand for property and rising prices.
‘House price increases are not a Guernsey phenomenon – it’s a national one.’
