HOUSE prices have gone up by 0.5 per cent in the last quarter.

The Jersey House Price Index, released today, shows that average prices are roughly stable, but are still just over twice as expensive as in the UK.And the average price of a house between October and December last year was £325,000, compared to £324,000 the previous year.The Statistics Unit of the Policy and Resources Department have compiled the figures, which do not take share transfer properties or first-time buyer homes into account.

The figures are used to measure changes in the prices of homes in the Island, and have been welcomed by the Finance and Economics Committee.The figures show that over the past 12 months prices of two-bedroom flats have dropped £24,000 to £222,000, that prices of one-bedroom flats have stayed static and that the price of three-bedroom houses – seen by Finance and Economics as a barometer of housing costs – have risen by £5,000 to £333,000.