House prices remain flat for second year in a row
Thursday 18th February 2010, 2:57PM GMT.
The average house price in 2009 was £497,000 – two per cent higher than 2008, but still the lowest increase for five years
JERSEY house prices have stayed flat for the last 18 months, but rents continue to rise, new figures have revealed.
The only type of property to buck the trend is four-bedroom houses, which are still getting more expensive, the latest Jersey House Price Index figures show.
The price of one- and-two-bedroom flats and two- and-three-bedroom houses has remained stable for two years. But four-bedroom-houses have seen an ongoing price increase since 2007, with prices being seven per cent higher last year compared to 2008.
The figures released today show that the average price of a house sold in Jersey was £497,000 last year – which is two per cent higher than in 2008. This is the lowest annual rate of increase for five years.
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Most greedy people selling don’t seem to think so, as there are still so many over priced boxes around.
Watch as the states bend over backwards and come up with a scam, to help the property developers sell their flats.
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@ FUBAR #1
If you owned an ‘average’ house and were selling it today, how much would you be asking? What is a fair price FUBAR?
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1.How sadly accurate……..I fear you are right.
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Surely a better headline would be, “Jersey houses just as unaffordable as they were two years ago”
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So many flats have been so cheaply made though first time buyers are reluctant to buy them. You could take out a 25 year mortgage on a flat in a development which may not even be standing by the time you have finished paying for it.
Thats the truth of the matter and it is sad that some developers have treat the people with contempt in thinking quantity is more important than quality.
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In response to #2, my house is worth what someone is prepared to pay. Subject to housing qualifications, it is a free market.
What concerns me though is the fact that Dandara have a sales office in town. Are people buying value, or are they being sold a lifestyle, that due to the number of further new developments may have limited re-sale appeal. These flats all seem to start off being described as Luxury Appartments, but like a top spec car, it eventually becomes just another used motor.
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Fubar – Maybe you just havent realised that most ‘Greedy People’ selling have had to live in these over priced boxes until they can afford something bigger and better, which also means more expensive -therefore they need to ask the going rate for their property and make as much profit as possible – common sense really if you took the time to think about it.
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Fubar no.1 I know many people who’d love one of those ‘oversized boxes’ you refer to. The cost to rent a 2-bedroomed house in Jersey is 18000 pa.
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