House prices rise by more than £50k in Guernsey

The housing market in Guernsey has risen by more than £50,000 in the past year

Guernsey house prices have gone up by more than £50,000 on average since 2021.

New figures from the States of Guernsey have shown the average property costs about £550,000.

A local estate agent described the housing market "tough" for her industry, as well as potential property renters and owners.

Cathy Gallion said there were more people than properties in the island and people were being let down.

Intervention 'distorts market'

She said: "It's possibly not the greatest market to be in as an estate agent because you are letting several people down.

"You've got properties and 20-plus people looking at the properties. So, out of 20, there are several offers and you're letting some people down; so whilst it's busy, it's a tough market to be in as well."

Lawyer Paul Nettleship said there were steps that could be taken to help but such work had "to be careful" because States intervention "can affect the market with distorting effects".

"But I do think there could be measures that could help first-time buyers more," he said.

Alex Gilbert, 25, said high prices were a real issue for young islanders looking to buy their first property.

"It makes it very difficult to plan for our future because, obviously, being in the position we are, we want to be buying a property fairly soon.

"But then the fact that the prices are going up just means that our target for savings just keeps going up as well," he said.

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