The average purchase price of a property in Guernsey, based on sales in the last three months, has dropped by 1.6%, new figures show. The mix-adjusted average price for local market properties was £599,745 in the first quarter of this year. This figure is 2.3% lower than the first quarter of 2023. However, it is 45.1% higher than five years previously.
The average rental price for local market properties was £1,911 in the first quarter of 2024 – 0.5% lower than the previous quarter. However, the figure was 7.5% higher than the first quarter of 2023 and 43.9% higher than five years previously.
The factors including age, location and quality determine the “actual value” of individual properties.