Guernsey house prices increase despite economic uncertainty

The average house price in Guernsey has jumped more than 5% in three months, according to official figures.

The quarterly property report from the States of Guernsey showed the average house price was £629,297 between July and September.

It is a 5.1% increase from the previous quarter and 13.5% higher than the same time last year.

The report also showed the average rental price was beginning to cool.

Renters were paying an average of £1,726 per month last quarter - 5% lower than the previous quarter.

However, the figure is still 7.9% higher than the same time in 2021.

Keith Enevoldsen, head of residential sales at estate agents Savills, said a shortage of supply was continuing to drive house prices.

"Despite the wider economic headwinds the housing markets in Guernsey have remained relatively robust," he said.

Gill Mooney, head of lettings at Savills Guernsey, said inflation was having an effect on the rental market.

"We're certainly seeing less people looking when compared to earlier in the year," she said.

"This can often be seasonal - and it's no surprise to see a slight slowdown over the summer - however I think the increase in the cost of living is making people think twice."

Follow BBC Guernsey on Twitter and Facebook. Send your story ideas to [email protected].