- within Real Estate and Construction topic(s)
The report on the House Price Index (HPI) for the second quarter of 2026 has been released, providing another great overview as to how the Jersey property market has performed.
Overall activity shows an increase of 7% compared with the last quarter and 24% higher than the corresponding quarter of last year. Equating that to numbers, HPI statistics show 282 criteria eligible properties were sold in the second quarter of this year.
Average (mean) property prices for quarter two of 2026 compared with quarter one of 2026 are as follows:
- One-bedroom apartments increased by £16,000 to £326,000
- Two-bedroom apartments increased by £74,000 to £580,000
- Two-bedroom houses increased by £130,000 to £601,000 (it should be noted this bracket is sensitive to values due to low turnover)
- Three-bedroom houses increased by £61,000 to £797,000
- Four-bedroom houses increased by £112,000 to £1,112,000
All in all across the board increases show a positive first half of the year.
First time buyers
This area of the market accounted for 16% of property purchases in quarter two, a decrease from 25% in quarter one.
Rental market
Interestingly, notwithstanding the higher rates of stamp duty for investor or buy-to-let purchases, 40 units (representing 14%) were purchased to be private rental properties.
Rental prices are showing as a decline of 1% compared to quarter one (albeit quarter one showed an increase from that of last year so essentially are now unchanged).
Financing
With the Bank of England Base Rate remaining static, the local mortgage rates shows little movement and it is forecast that our rates will continue as such for the foreseeable future.
Looking ahead
Whilst the market is busy, the supply of properties for sale on the market remains high. It is clear that vendors will need to adjust their expectations in terms of property value and if interest rates were lower current asking prices would be achievable.
Perhaps, looking forward to summer holidays ending and schools returning in September, we will see further market movement.
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