Guernsey house prices rise by more than 50% in five years

Guernsey housing prices and rental costs have risen in the last five years

The average house price in Guernsey is 51.6% higher than it was five years ago, figures show.

The average purchase price for a local market property in the last quarter of 2022 was £638,267, according to the Residential Property Prices Bulletin.

This is 15.9% higher than the same quarter in 2021.

The bulletin said factors including age, location and quality determined the "actual value" of individual properties.

Rental prices were 35.7% higher than the five years previously.

The average rental price was £1,725 per calendar month in the same quarter for 2022, matching its previous quarter but higher by 4.5% than the fourth quarter in 2021.

Average times between a local market property becoming available for purchase and its sale had decreased since the third quarter of 2018.

The final sale price of properties compared to its maximum and last advertised price was 4.5% lower in the 2022 fourth quarter compared to 10.9% lower in the same quarter of 2017.

A total of 2.8% of local market purchases in the fourth quarter in 2022 had been built in the previous 12 months, compared to 4.3% in the same quarter of 2021.