Guernsey finance workers 'leave over housing shortage'

Guernsey's housing market has been described as like "London on steroids"

Some Guernsey finance workers are leaving the island due to the lack of affordable and adequate housing, according to a survey.

The Guernsey International Business Association (GIBA), which conducted the survey, said there were 500 to 600 job vacancies in the finance sector.

The sector employed about 20% of the working population but generates nearly 40% of GDP [gross domestic product].

The GIBA said it welcomed a housing action plan by a States committee.

The plan, by the Committee for Environment and Infrastructure, aims to provide affordable, secure and energy-efficient housing.

The GIBA said firms referred to the costs and availability of housing as "significant issues when it came to recruiting and retaining staff, with several firms indicating that this was one of the main reasons staff had left the island and relocated elsewhere".

"The ability to attract and retain staff with the right skills is a critical factor in the island's competitiveness and the health of Guernsey's economy," it said.

Guernsey's housing market is one of the most pressing domestic changes facing the island, having recently been described by the head of the Guernsey Housing Association as like "London on steroids".

The States' figures showed the average house price on the local market at £638,267, a 50% increase in the past five years; with renting prices of local properties being £1.725 a month at the end of 2022, a jump of just over 35% from 2017.

Follow BBC Guernsey on Twitter and Facebook. Send your story ideas to [e-mail].