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  1. ITV Report

Jersey house prices soar for the second year running

Jersey average property prices are now higher than those found in London (£478,000) and Guernsey (£441,000). Credit: PA

The average price of a house in Jersey has increased by 7% in the last 12 months.

It is the second year running that property prices have increased by this figure.

The average house price in Jersey now stands at £518,000.

This puts the island's average property price above those in London (£478,000) and Guernsey (£441,000).

At the end of 2019, one bedroom flats in Jersey sold for an average of £287,000 and the average price of two bedroom flats stood at £418,000.

The number of houses sold declined last year but the number of flats sold rose. Credit: Statistics Jersey

Flats for first-time buyers have increased by over £100,000 since 2013.

People looking for a larger property at the end of 2019 could have been set back by an average of over £1,000,000 for a four bedroom house.

The number of houses sold declined last year but the number of flats sold rose, meaning turnover remained relatively unchanged.

Overall there was a 7% increase in total market activity in 2019.