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ARTICLE · 23 FEBRUARY 2024

2023: Jersey Property Market Review

Collas Crill
Collas Crill
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Collas Crill

Collas Crill

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Newly released figures from Statistics Jersey regarding the island's property market reveal that, overall, 2023 saw a decline in house prices.

JerseyReal Estate and Construction

Newly released figures from Statistics Jersey regarding the island's property market reveal that, overall, 2023 saw a decline in house prices.

The report on the House Price Index (HPI) for the fourth quarter of 2023, released on 15 February 2024, provides collective figures for the year - let's turn to the figures:

Property transactions

Overall figures for 2023 show the first decrease in house prices since 2013 and prior to that 1986.

The most noticeable price decreases were on one bedroom flats and two to three bedroom houses, with varying factors determining these price drops such as a stagnation in the investment market due to the implementation of the additional 3% stamp duty payable on properties acquired for use other than as a main residence and higher interest rates on mortgages.

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