Guernsey property prices rise in third quarter of 2024

Average purchase prices for local market properties were up nearly 4% to nearly £610,000 in the third quarter of the year compared with the previous three months, according to States of Guernsey data .

The 3.8% increase compares with a 5.9% decrease in the same period in 2023.

Over the past five years, average prices have risen by 40%.

Transaction volumes also showed an upward trend, with 165 local market transactions in the third quarter of 2024, an increase of 20 transactions from the previous quarter, figures showed.

Meanwhile, the median price for 16 open market transactions during the period stood at £1,958,288.

Rental prices have continued to climb, with the average rental price for local market properties reaching £2,054 a month - a 4.2% rise from the previous quarter and a 7.6% increase from the third quarter of 2023.

Over the past five years, rental prices have jumped by 47.5%.