Value of loans on the increase

Wednesday 21st September 2011, 3:00PM BST.

Although the number of mortgages has decreased, the value of the average mortgage in Jersey has risen this year

THE number of mortgages registered by the Royal Court in the period to the end of August was slightly lower this year than last, but the average amount of money advanced increased by £85,000.

By the end of August in 2010 there had been 1,630 transactions, worth £714 million, whereas by the end of the same month this year there had been 1,621.

The difference is clearly marginal, but this year’s transactions were worth considerably more at £852 million.

See Wednesday’s JEP for the full report

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1
Overpopulated

September 21, 2011 at 3:27 pm

All those foreign buy to letters making money out of Jersey, do they pay tax on the money they make?

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2
Adam

September 21, 2011 at 4:51 pm

Tell me if I’m wrong, but all this shows is that people who have money are moving and those that are looking to borrow aren’t moving. This must mean that the higher value properties are still selling at the same rate they were last year whereas smaller, cheaper properties are not moving as much. This is because people are not able to borrow the level required for the value of the properties and cannot save enough for deposits. And yet the states are continually trying to flood the market with smaller, cheaper properties…. good work.

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3
J-Cat

September 22, 2011 at 6:27 pm

There is absolutely no correlation between this spin and the pages and pages of paid property ads in the JEP.

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4
Overpopulated

September 23, 2011 at 12:35 pm

3. Quite correct, last week I went to Guernsey and read the Guernsey JEP equivalent. There was 1 page of property adverts totalling about 6 properties, in last night’s JEP there was about 5 pages with an average of 15 per page.

There is definitely something we are not being told – I know there are always properties for sale due to the big Jersey hobby of divorce, and executors selling. But I think many of these must be because of the other D – debt.

There is great uncertainity in the world economy and Jersey has not been immune to this, regardless of what our glorious leaders spin to us. And even more uncertainity with the Euro and banking crisis.

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