The house-buying process in Guernsey has come under the spotlight recently as residents and local government leaders have demanded sweeping changes. The process now takes an average of 12 weeks. This frequently adds time, resulting in unanticipated problems that buyers raise over the lengthy waiting period. Private stakeholders particularly emphasize the importance of a highly efficient system. Like their counterparts in the UK and Europe, they’re hoping for one to facilitate easier transactions for would-be homebuyers.
Local resident Nathan De Carteret voiced frustration with the existing process, highlighting that it discourages people from engaging in the housing market. “Everyone looks forward to buying a house, getting on the property ladder, selling and moving on to the next challenge,” he said. He added, “At the moment it seems like it’s very much the opposite where people are actually avoiding looking or selling because it’s just so drawn out and long and difficult.”
Kay Worthington, who just sold her historic home in Guernsey County and purchased a new home in the UK. She said local systems were failing to protect the most vulnerable. She pointed out that in Guernsey, when a house is surveyed it isn’t until several weeks after a person has made an offer on a home. The UK system requires that a qualified surveyor inspect the house before any offer process even starts. This mismatch has led to confusion for local buyers, with many questioning the transparency and effectiveness of the purchasing process.
Here are some highlights of what real estate industry professionals had to say about what’s happened. As Sarah Gaudion from Swoffers emphasized, long and involved buying processes are daunting. For starters, it unfairly burdens buyers and sellers. “We need greater on-island support, I think, within our banks to be able to expedite the process,” she remarked. Other stakeholders are just as dedicated and passionate. They’re in favor of increasing support for local banking, recognizing that more local banking options might ease some of the stress associated with home purchasing.
For recent homebuyers Karen and Colin Langlois, the experience was “pretty smooth sailing. All groups pointed to challenges they experienced as a byproduct of the existing housing market, rather than shortcomings in the home-buying process. They noted that while their surveyor’s report was delayed by a week or two, it did not significantly hinder their ability to proceed with their purchase.
Brian Gilmour provide the positive example of making Guernsey’s housing allocations process more inclusive. He compared it to getting a detailed car inspection before buying a used car. “It is a bit like getting a full MoT on the house before you buy it,” he explained. Gilmour proposed that instead of multiple buyers commissioning individual surveys for a property, there should be one comprehensive survey conducted prior to listing the home on the market. This latter approach would involve a full and public accounting of the property’s value, quality and upkeep, to be rated on an A-F scale.
Steve Williams, President of the new Committee for Housing, Recognizing these concerns. As he said, Ensure there’s a plan in place and that you’re working day in day out to make the actions in your plan happen. The aim is to relieve housing market stresses and make the overall home buying experience simpler.
Calls for reform are getting louder. Stakeholders are optimistic Guernsey can build on resources already available, such as cadastre data, to improve the transparency of home buying. Matt Cowan is optimistic about the coming changes, which promise to make the platform work better for buyers and sellers to each other’s benefit.
