Guernsey property update

In the recent Guernsey Residential Property Prices Bulletin, the figures from Q4 of 2017 showed small yet positive growth in the market. The key findings were that the 'mix adjusted average price' for local market properties was 2.5% higher than in Q4 of 2016; but not only were prices higher - 39 more transactions completed over the same period. We believe that this is a positive end to what could have been a more challenging year for the market and the figures should be encouraging to anyone looking to sell in the next 12 months.

Our team conveyed properties with a total value of almost £87m in 2017. Setting aside the single exceptional transaction of the building that we are lucky enough to sit in every day, that was more than any other law firm. Last month (February 2018) we continued this trend by achieving a 23% market share in value of sales and 21% for the total number of sales, market leading in both respects. This highlights the trust that our clients, both old and new, have in our considerable expertise.

Now we are through the winter months, we are busier than ever building foundations for the spring. There are strong indicators of growth in the local market and there appears to be rising confidence; but there is also a tangible increase of interest in the open market from newcomers. It is particularly exciting that many of the enquiries are from economically active individuals that would be bringing substantial business acumen into the island. Locate Guernsey is doing a sterling job in facilitating such moves. See their infographic here.