As Statistics Jersey recently reported, property turnover has reached record levels, contributing to an increase in the island’s housing market activity. This change is a reflection of shifting buyer demand and growing pricing dynamics. During the most recent quarter, residential property turnover boomed by 8% relative to the second quarter of 2024. It had the largest quarterly jump at 5% over Q1 2025.
The mean value of two-bedroom costs eventually series at just under £544,000, reflecting a drop-in £27,000 on the last quarter. By comparison, the average price of a three-bedroom house increased by £18,000. This is illustrative of the divergent trends that exist among housing types. Even with these ups and downs, the average property price statewide was still 1% under what it was in Q2 of 2024.
The report went into depth on how flats were performing in the market. We saw a truly massive mean average price of two-bedroom flats registered at £514,000, down marginally compared to the last quarter. One-bedroom flats are going up in price, now averaging £310,000. This is an increase of £2,000 on Q1 2025.
All that said, on an annualized basis housing market activity was up 2% if we compare it to the last four quarters. That’s an unmistakable step up from last quarter. When compared to the second quarter of 2024, activity jumped a staggering 18%, showing a strong rebound in the market. Even with the recent rebound, prices remain 14 percent below their late-2006 peak. This peak was reached in Q3 2022.
Home prices on Jersey have leveled off, piquing the interest of new homebuyers and investors. For many, this is perceived as a once in a lifetime opportunity to break into the market. Further, data indicates that although some prices are falling, the direction of market activity overall is rising on the uptick.
