Overview of the Jersey House Price Index for the fourth quarter 2016 including a comparison on a calendar year basis.

1. Jersey House Price Index
Fourth Quarter 2016
Statistics Unit
Statistics Unit: www.gov.je/statistics @JsyStats

2. Annual Summary
Statistics Unit
Overall Index
• the Jersey House Price Index was 4% higher in 2016 than in 2015
• this represents the third consecutive annual increase in property prices
Property Types:
• 1- and 2-bedroom flats saw average prices increase in 2016 with 2-bedroom flats recording
their highest ever annual average price
• 2-bedroom houses recorded a small decrease in their mean property price
• 3- and 4-bedroom houses both recorded their highest ever annual averages
Turnover:
• 12% higher than in 2015
• 1,410 “eligible” transactions

3. Quarterly Summary
Statistics Unit
Rolling four-quarter basis
• the mix-adjusted average price of dwellings sold in Jersey in the year ending Q3 2016 was
1% higher compared with the previous quarter
Quarterly basis:
• the seasonally adjusted average price was 2% higher than in the previous quarter and
4% higher than the corresponding quarter in 2015
• 1- and 2- bedroom flats both recorded higher mean prices than in the previous quarter
• 2-bedroom houses recorded lower mean prices than in the previous quarter
• 3- and 4- bedroom houses both recorded increases in mean prices, and, in both cases, this
most figure represents the highest mean price for these classes of property recorded to date
Turnover in Q4 2016:
• highest recorded quarterly figure since 2006
Housing market activity:
• 4% higher than in the previous quarter (Q3 2016) on a rolling four-quarter basis
Rental:
• on a rolling four-quarter basis, rental prices in Jersey were 1% higher in the year ending Q4
2016 than in the previous quarter

4. Mix-adjusted House Price Index
Statistics Unit
Rolling four-quarter basis: the mix-adjusted average price of dwellings sold in
Jersey in the year ending Q4 2016 was 1% higher compared to the previous
quarter.
Quarterly basis: the seasonally adjusted average price was 2% higher than in
the previous quarter and 4% higher than Q4 2015.

5. Mix-adjusted House Price Index
Statistics Unit
Rolling four-quarter basis: the mix-adjusted average price of dwellings sold in
Jersey in the year ending Q4 2016 was 1% higher compared to the previous
quarter.
Quarterly basis: the seasonally adjusted average price was 2% higher than in
the previous quarter and 4% higher than Q4 2015.

6. Annual percentage change in the Jersey House Price Index 1986-2016
Statistics Unit
Calendar year basis: Jersey House Price Index was 4% higher than in 2015,
representing the third consecutive annual increase in property prices

7. Statistics Unit
Individual property types – 1-bedroom flats
The median price of 1-bedroom flats sold in the latest quarter was £234,000
Increase of £18,000 from Q3 2016

8. Statistics Unit
Individual property types – 2-bedroom flats
The median price of 2-bedroom flats sold in the latest quarter was £320,000
Increase of £16,000 from Q3 2016

9. Statistics Unit
Individual property types – 2-bedroom houses
The median price of 2-bedroom houses sold in the latest quarter was £390,000
Decrease of £33,000 from Q3 2016

10. Statistics Unit
Individual property types – 3-bedroom houses
The median price of 3-bedroom houses sold in the latest quarter was £513,000
Increase of £17,000 from Q3 2016

11. Statistics Unit
Individual property types – 4-bedroom houses
The median price of 4-bedroom houses sold in the latest quarter was £748,000
Increase of £21,000 from Q3 2016

12. Statistics Unit
Individual property types – Average prices

13. Turnover – including share transfers
Statistics Unit
Quarterly basis: higher than in the previous quarter
highest recorded quarterly figure since 2006
Share transfer properties accounted for over half (55%) of eligible flat sales
during the most recent quarter.

14. Turnover – annual basis
Statistics Unit
Annual turnover: 12% higher than in 2015
Total turnover of flats 21% higher than in 2015
Total turnover of houses 8% higher than in 2015

15. Statistics Unit
Price Distributions

16. Housing Market Activity Index
Statistics Unit
Rolling four-quarter basis: 4% higher than in the previous quarter
Quarterly basis: 4% higher than in the previous quarter (Q3 2016) and
17% higher than corresponding quarter of 2015 (Q4 2015)
Annual basis: 17% higher than in 2015

17. Comparison with Guernsey
Statistics Unit
Q4 2016 Price (£,000)
Jersey 480
Guernsey 414
Guernsey: mix-adjusted price: up 0.3% compared to the previous quarter;
down 2.3% compared to Q4 2015;
eighth consecutive quarter of negative annual growth
turnover: essentially unchanged compared to Q4 2015;

18. Comparison with UK
Statistics Unit
Q4 2016 Price (£,000)
Jersey 462
UK 217
London 477
South East (excluding London) 313
South West 277
UK: mix-adjusted index: up 2% on rolling 4-quarter basis;
up 8% annually; up 1% quarterly.
• New methodology from UK Office of National Statistics
• Change to the formula used to calculate average
• Comparison is therefore with revised Jersey index

19. Annual Summary
Statistics Unit
Average property price
Mix-adjusted average price of dwellings sold in Jersey
Annual comparison of the Jersey
residential property market
Turnover of properties
Number of eligible properties sold in Jersey
Total market activity
Average of the Jersey market activity index
+4%
increase
+12%
increase
+17%
increase
2015
1,250
transactions
1,410
transactions
174.4 204.2
£450,000
£
£468,000
£
2016

20. Statistics Unit
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The Q1 2017 report will be released on
18th May 2017