Guernsey house price increase 'slows down'

A slowdown in the steady increase of Guernsey property prices is good for those looking to buy, according to the States economist.

The average price for local market properties was £439,861 between April and June 2012, an increase of 3% or £12,635 on the same period in 2011.

Dr Andy Sloan said it was important that sales volumes had remained "relatively robust" so far in 2012.

He said rates close to retail inflation made properties more affordable.

Dr Sloan said: "Over the last decade property has increased in value in real terms and price to earnings ratios have widened - a period of rates close to retail inflation would be positive for affordability."

There were 232 local market transactions during the three-month period, down 20 on the same period in 2011.