Residential Property in Jersey
The Jersey House Price Index measures the combined weighted average price of 1 and 2-bedroom flats and 2, 3 and 4-bedroom houses. The principal data source for the Jersey House Price Index is the Jersey Property Bulletin, supplemented by information on type and size of property provided by the States of Jersey Housing Department. 2006 The average (mix-adjusted) house price in Jersey was £360,000 in Quarter 4 2006, up from £335,000 the previous year. The overall average price of dwellings sold in Jersey grew by 6.5% in 2006. Jersey’s population was 87,186 at the last Census in March 2001. By the end of 2004 this had increased to 87,700. 2009 The average (Mix-adjusted) house price over the past 18 months has been substantially flat, although four-bedroom houses rose 7% during 2009. Turnover was generally a fifth lower than the long term average. Housing LawIn 1949, the island established a housing control system as a form of population control and this was subsequently amended in 1970. This remains in force today In general terms, anyone born in Jersey and who spends 10 years in the island, automatically becomes entitled to rent and buy property in the island. Essential Worker licences are also available to people whose presence here would benefit the island. A licence is linked to a particular job. The Housing Law is very complex and guidance is provided on the Jersey Government website Regulations Note re the above graphThe methodology used to calculate the House Price Index was revised in 2002. The new index represents a weighted average price of 1- and 2-bedroom flats and 2-,3- and 4-bedroom houses and bungalows. Previously the methodology had focused on
3-bedroom houses. As such the two indices are not directly comparable, but in general terms can be used to provide an overall indication of longer-term movements in Jersey house prices. Useful linksJersey House price statistics Useful contacts
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