The figures released yesterday in the latest House Price Index Report compiled by the States of Jersey's Statistics Unit suggest that property prices in Jersey have risen to their highest level in five years.
The report showed that the average price for all property types increased by 3 per cent last year, with the cost of a three bedroom house rising by £20,000.
The figures, which were released in a briefing yesterday also showed that there had been a significant increase in the number of sales. Full details can be accessed here.
Shaun O'Connor, Conveyancing Manager at Collas Crill, believes this news echoes true, he said: "There are clear signs of more activity in the market. Already this year the Collas Crill property team has dealt with two of the largest residential transactions ever seen in the Island and numerous high value commercial property matters. Overall the firm has seen a steady increase in the number of instructions and transactions from the last quarter 2014 through to 2015. All of this bodes well for the Jersey property market for 2015."
If you want to find out more about how these figures compare with the UK residential market Collas Crill is once again shortly hosting its UK property seminar. Full details are available here.
To discuss these latest statistics or any of your property needs please speak to any of the Property team.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.