Average Jersey house prices fall this summer

Average house prices fell in Jersey during the summer months.

The average price of a home was 4% lower than during the same time the previous year, and 5% less than in the second quarter of 2011.

The average Jersey home was sold for £413,000 between July and September, earlier this year that figure was £437,000.

One of the biggest falls in price was for one bedroom flats, which went down 12% from their 2010 price to £189,000.

The average house price in Jersey of £413,000 is nearly double that of the UK which is £208,000.

But it is £14,000 cheaper than in Guernsey where it is £427,000.

The States statistics unit said: "The latest annual and quarterly decreases in mix-adjusted average price were driven by the two and four bedroom houses which sold in quarter three 2011 and an increased proportion of lower priced one-bedroom flats."