09 January 2023
Guernsey housing market activity at second highest sales level
Sales activity in the Guernsey property Open Market was the second highest it has been at the end of 2022, since 2000 according to conveyancing activity seen in the latest statistics compiled by Unusualities of Guernsey, an independent analyst of the Guernsey property market.
Figures reveal that there was a total of 98 Open Market transactions in 2022, a figure that is slightly lower than in 2021 but more than any other year since 2007 demonstrating a robust market since the pandemic.
Of the 98 Open Market transactions completed last year, the median price (realty only) of the 87 Open Market Houses sold, was £1,379,625. The nine Open Market flats sold in 2022 had a median price (realty only) of £1,218,750. In total there were 892 transactions recorded on The Guernsey Local Market in 2022.
In terms of the 892 Local Market sales last year, the median price (realty only) for the 671 houses sold, was £675,000, up from £570,375 in 2021 (but lower than Q3 of 2022 where figures stood at £685,425). The median price (realty only) for the 221 flats sold in 2022 was £351,000, up from the £314,438 recorded in the previous year.
Jason Morgan, head of Carey Olsen’s property group in Guernsey, said: "Following some exceptional sales activity in 2021, appetite across both the Open and Local Markets remains strong. Moreover, it is reassuring to see that Open Market house prices are down YOY, with another positive being the 70 new build and under construction sales on the island."
Last year, there were 1,573 conveyances that totalled £856,297,368 in sales value on the island. Of these sales, 203 were valued at $1,000,000 or higher. St Peter Port saw the highest level of sales activity with 447 sales across the year.